A burst of colder air arrived just as wind output slackened, and gas plants filled the gap. ENTSO-E data show gas-fired generation ran north of 10 gigawatts on Wednesday and climbed to 14 gigawatts during the evening surge, a level last seen in February.
Electricity demand in Germany approached 60 gigawatts, the most since March, and fossil fuels stayed central to meeting it. Coal and gas together met 42% of Wednesday's load.
Intraday electricity for 7 to 8 p.m. printed at €246.29 per megawatt hour on Epex Spot. European benchmark gas is now at its strongest since late 2022 and sits at roughly three times last winter's mark.
Germany's storage is 61% filled, the leanest for this point in the calendar since records began in 2009, and colder conditions are starting to pull gas out of summer inventories. Europe is also staring at a broader cold spell, with a low-pressure system dragging chilly air south and powering an Atlantic storm forecast to hit the UK and the English Channel coast with winds of hurricane strength from late Thursday into early Friday.
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Forecasts point to weaker wind through Thursday evening, which can keep gas plants busier. ENTSO-E data also show October gas-fired generation in Germany running close to last year's pace and on track for the biggest October tally since 2019. Translation for positioning: gas demand and power prices look set to stay jumpy into the early winter set-up.
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