European power prices decreased in April despite a 30% year-on-year decline in Germany’s nuclear output.
Energy prices in the continent fell by 2.7% to €25.13/MWh (£19.6/MWh) last month, according to new figures released by S&P Global Platts.
In the UK, day-ahead power prices were down 1% compared to March and 23% low in comparison to April last year. The price then averaged at £43.62/MWh (£34.04/MWh), it added.
Coal-fired output in the country dropped to an all-time low of 1.7TWh due to combined wind and solar productivity of 2.56TWh. Gas-fired generation stood at 10.91TWh.
The nation’s gas prices remained “significantly lower” year-on-year throughout April despite temperatures bring below seasonal normal levels towards the end of the month which increased demand.
Day-ahead gas contract averaged at 29.30pence per therm last month.
In Germany, last month’s day-ahead power prices rose by 1% compared to March to €24.35/MWh (£18.9/MWh) as reactor maintenance dragged nuclear output to its second-lowest monthly level on record, the report states.
In France, day-ahead power prices averaged €25.60/MWh (£19.9/MWh) – a 5% decline from March.
Dutch gas prices averaged €12/MWh (£9.3/MWh) – 1.9% lower from March and 45.6% lower on April 2015.
Henry Edwardes-Evans Platts Power in Europe Managing Editor said: “What we are seeing are well-supplied generation markets shrugging off steep declines in conventional, dispatchable power plant capacity.
“Longer term, however, failings in electricity market design, which is prone to national distortions, will see cracks appear in system reliability unless the European Commission and European Union Member States act in unison and move decisively to complete the single market.”
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