Wholesale electricity prices plunge 40% on hurricane Xaver - report
Dec 5, 2013 - Wholesale electricity prices in Germany dropped by 40% on Thursday from Wednesday due to the expected spike in output from wind farms when a storm dubbed Xaver reaches the country's northern shores, daily Sueddeutsche Zeitung said.
The price of electricity to be delivered on Thursday fell to EUR 31.50 (USD 42.95) per MWh on the exchanges due to the expected oversupply.
According to the German weather services, wind speeds will reach 140 km/h (87 mph).
Wind power generation reached a record-high capacity of 24.7 GW in October when wind storm Christian hit northern Germany with wind speeds of 190 km/h.