Dutch Power Falls on Strong Winds Amid Volatile Gas Markets

Dutch power prices cleared at €103.8/MWh in week 11, €7.3/MWh lower than the previous week. The decline was mainly driven by a sharp increase in wind generation in both the Netherlands and Germany.

Although solar generation decreased by around 20% week-on-week in both countries, wind output increased substantially. Wind generation rose by approximately 100% in Germany and about 85% in the Netherlands, more than offsetting the decline in solar production and putting downward pressure on prices. The week began with low-wind conditions where prices cleared at €137.6/MWh on Monday, and €143.9/MWh on Tuesday. During this period, prices briefly spiked, with the Dutch market reaching as high as €242.56/MWh at 18:00 on 9 March. However, the rally proved short-lived. From 11 to 13 March, the windiest period of the week, prices fell to a range of €68.5–€81.8/MWh, exerting downward pressure on the weekly average.

For most days during the week, Dutch prices cleared above Germany, resulting in a positive weekly NL-DE spread of €4.69/MWh. From Friday evening to Sunday evening, Eems 3–7 grid restrictions were imposed at the TSO’s request on the Eems side, limiting maximum infeed to 0 MW. This added upward pressure on Dutch prices and supported the positive spread.

TTF prices remained volatile throughout the week. Prices peaked at €58.6/MWh on Tuesday, dropped to €48.9/MWh midweek, and ended the week around €50/MWh. The weekly average was €51.1/MWh, €3.8 higher than the previous week.