potentially topping EUR 160/MWh, as plummeting temperatures drive demand higher and wind generation plummets.
Prices could reach EUR 150-160/MWh by mid-week, with demand forecast to rise to 30.4-30.8 GW/day, up from 27.7 GW/day last week. Average temperatures are expected to drop by 5.5°C to below 6°C, according to TSO Red Electrica.
Wind power output is projected to more than halve, falling to 5.1-5.3 GW/day from 13.3 GW/day last week. Analyst Milton Ceron noted that limited renewable generation and cold temperatures are expected to increase upward pressure on prices.
