A June characterized by fitful wind resource saw German spot power average Eur42.48/MWh, over 40% higher yearon- year and the highest monthly average since January 2017 when multiple nuclear outages tightened supply. June 1 itself saw day-ahead base hit its highest value since the winter (at €51.30/MWh). Below-normal wind speeds have cut down wind supplies this month and were the main driver for strong short-term power, traders said. Early and late June saw wind output drop below 5 GW. The frontmonth contract was driven by both spot and forward curve fundamentals, with July base last valued at €45.58/MWh on the EEX exchange.
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