European spot electricity prices for day-ahead delivery soared in the wholesale market on Wednesday buoyed by forecasts showing a rise in consumption due to falling temperatures, and a drop in electricity generation from wind turbines.
The French baselaod power contract for Thursday delivery added 5 euros, or over 18 percent to 32.75 euros ($39.98) a megawatt-hour (MWh).
The equivalent German spot power price gained 5.75 euros, or 21 percent to 31.75 euros/MWh. Electricity consumption will rise by over 1 gigawatts day-on-day on Thursday in France to 48.1 GW, according to Thomson Reuters data. Average temperature is forecast to drop by 2.5 degrees Celsius. Read More