Generation from thousands of wind turbines from Germany to the Nordic region rose this week, increasing supply and pushing down short-term prices.
Nordic wind generation exceeded 25 gigawatts on Wednesday evening, a new record beating the maximum set in February, according to data from European grid group Entsoe. Germany is expected to reach a record 50.9 gigawatts by 6 p.m. Thursday, a Bloomberg model shows.
The surge in wind output will help counter higher energy demand as frosty temperatures grip most of Europe and the UK over the next few days. Temperatures in Berlin will plunge to -2.5C by Monday, while Oslo will see lows of -6.5C over the next week, according to forecaster Maxar Technologies.
Britain’s wind output also jumped, contributing to more than a half of the nation’s energy mix early Thursday, grid data show. Parts of the UK are going to see cold winds arrive from the north by the end of the week, according to the Met Office.
The Nordic region’s power prices for Thursday fell to their lowest since early November. Wind was the biggest source of electricity generation this morning in Sweden, accounting for a third of the nation’s power, according to the grid manager. The gusty weather is expected to remain for a few days, though at slightly lower levels, according to a Bloomberg model.
Scandinavia has seen bitterly cold days for a while — unlike the rest of the continent — and even though temporary, the lower energy prices will feed through to bills helping households as cost-of-living worries linger.
It’s probably only a matter of time until the record is broken again. Utilities are adding turbines at a fast pace as the technology is seen as vital for the Nordic region — and the rest of Europe — to reach green targets. It will be the backbone of a future energy system as everything from transport to heavy industry gets increasingly electrified.
(Updates with details on Germany, UK throughout)
