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03 Jan 2023 | 11:41 UTC
Highlights
Capture prices deflate amid year-end surge
Strong wind forecast into early January
Annual output up 9% at record 454 TWh
European wind power generation rose 27% week on week in the seven days to Jan. 1, with the 92.6 GW average the second highest on record, WindEurope data showed.
Output on Dec. 30 averaged 110 GW, the highest since April with day-ahead power for Dec. 31 delivery in Germany settling below zero (Eur0/MWh).
The year-end surge narrowed December's year-on-year shortfall with monthly generation averaging 59 GW compared to 63 GW in December 2021.
Daily output averaged as low as 29 GW early December.
Capture prices fell sharply during the month amid the swing from cold and calm to very mild and windy weather across Northwest Europe.
German onshore wind capture prices for Dec. 31 were assessed at minus Eur0.86/MWh (minus 91/cents/MWh), down from Eur548.35/MWh on Dec. 14, according to S&P Global data tracking generation and prices on an hourly daily basis.
UK offshore wind capture prices eased from a record GBP565.88/MWh ($674/MWh) on Dec. 12 to GBP65.61/MWh on Dec. 29, S&P Global data showed.
UK wind output was forecast to average around 13 GW on Jan. 4, according to spotrenewables, while German wind was forecast to average above 40 GW.
Wind output across Europe in 2022 of 454 TWh was the highest on record and up 9% on 2021.
The energy generated was similar to around 86 Bcm of natural gas or 854 standard LNG cargoes if the gas was burned in a 50% efficient gas-fired power plant and assuming standard cargo sizes and regasification rates.