Emergency power on a sunny Sunday

Last week, the average Dutch spot price was 61.3 €/MWh. On Monday evening, Dutch spot prices cleared at 155 €/MWh, while in Germany that same hour settled at 174 €/MWh. The weekend prior, prices were so low that few conventional power plants were running. On Monday, wind completely died down in the second half of the day, leading to the sudden activation of many power plants. The rest of the week saw fluctuating amounts of solar and wind generation. During the weekend Dutch spot prices were higher than those of neighboring countries. On Saturday we imported substantial volumes of power which we exported to the United Kingdom. French spot prices remained considerably lower compared to Dutch and German spot prices. Last week, the spread between the Netherlands and France was 22 euros.
On Sunday, there was much more solar generation than initially forecasted. TenneT eventually activated downwards mFRRda capacity for 2 hours due to an excess of power on the grid. During some hours, imbalance prices were highly negative, falling as low as -1100 €/MWh.
TTF remained very stable. The average day-ahead gas price was 27.6 €/MWh. By the end of the week, gas contracts for the summer months had declined by almost half a euro, closing around 27.3 €/MWh. CO2 fluctuated slightly throughout the week and closed just above 60 €/EUA. The Dutch power contract for April became slightly cheaper, eventually closing at 52.4 €/MWh. May closed 50 cents higher at 46.3 €/MWh.

For next year, most prices remained relatively stable. The gas price increased by 20 cents and stood at 31.4 €/MWh by the end of the week. CO2 became half a euro more expensive, closing just above 64 €/EUA. The CAL-25 for Dutch power increased by one and a half euros to 77.6 €/MWh.