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Morning edition · Wednesday, 4 November 2026

ENERGY · DESK NOTE

Wind nearly doubled on Tuesday, and the gas plants burned 2% less

SMARD's first full-day figures show 368.8 gigawatt hours from the turbines against 196.6 on Monday. The fossil fleet barely noticed, and neither did the price.

Yesterday the wind did what Monday’s forecasters promised. German onshore turbines generated 279.3 gigawatt hours across the whole of Tuesday 3 November and offshore wind 89.5, SMARD’s provisional figures show1. Desk arithmetic: that is 368.8 gigawatt hours, against 196.6 on Monday (73.7 onshore, 122.9 offshore), an increase of about 88%1. Onshore alone produced almost four times Monday’s output1.

The fossil fleet hardly moved. Natural gas plants produced 310.0 gigawatt hours on Tuesday against 316.3 on Monday, a fall of about 2%1. Lignite gave up a little more, 260.5 against 276.1, about 6%1. Hard coal went the other way, from 102.3 to 107.71. Desk arithmetic: the three together fell from 694.7 to 678.2 gigawatt hours, by 16.5, while wind rose by 172.21.

So where did the wind go? Not into a quieter country: total grid load was 1,421.4 gigawatt hours on Tuesday, barely below Monday’s 1,436.71. SMARD’s residual load, the demand left over after wind and solar, fell from 1,159.8 to 978.3 gigawatt hours1. The generation series do not show where the rest of the difference was settled; the cross-border account is a separate ledger, and this desk has not yet checked it. What the figures do show is that one windy weekday does not switch off the plants that were already booked, warmed up and selling into the evening peak.

Wednesday ends the €250 streak, by €1.01Line chart of the daily average German-Luxembourg day-ahead electricity price from 1 September to 4 November 2026, in euros per megawatt hour. It falls to €30.12 on Saturday 24 October and €13.12 on Sunday 25 October during the storm, then climbs to €314.85 on Thursday 29 October, the highest daily average of 2026 so far. The six delivery days from 29 October to 3 November all stayed above €250, ending with €252.85 on Tuesday 3 November. The latest value is €248.99 for delivery on Wednesday 4 November. Latest values: Day-ahead DE-LU 248.99 (2026-11-04).ENERGY · POWERWednesday ends the €250 streak, by €1.01Germany/Luxembourg day-ahead electricity price, daily average by delivery day, € per MWh−1000100200300400Sep ’26OctNov248.99Day-ahead DE-LUSOURCE Bundesnetzagentur | SMARD.de, day-ahead price DE-LU (filter 4169), delivery days 1 Sep to 4 Nov 2026, retrieved 4 Nov 2026 · CC BY 4.0INSIDE DESK

Line chart of the daily average German-Luxembourg day-ahead electricity price from 1 September to 4 November 2026, in euros per megawatt hour. It falls to €30.12 on Saturday 24 October and €13.12 on Sunday 25 October during the storm, then climbs to €314.85 on Thursday 29 October, the highest daily average of 2026 so far. The six delivery days from 29 October to 3 November all stayed above €250, ending with €252.85 on Tuesday 3 November. The latest value is €248.99 for delivery on Wednesday 4 November.

Source Bundesnetzagentur | SMARD.de, day-ahead price DE-LU (filter 4169), delivery days 1 Sep to 4 Nov 2026, retrieved 4 Nov 2026 · CC BY 4.0. Bundesnetzagentur | SMARD.de, market data. CC BY 4.0.

Data (CSV) · SVG · PNG

Latest values as a table
DateDay-ahead DE-LU
2026-10-30268.62
2026-10-31251.42
2026-11-01255.91
2026-11-02259.31
2026-11-03252.85
2026-11-04248.99

The price said the same thing, a day in advance. Tuesday’s day-ahead average was €252.85 per megawatt hour and Wednesday’s is €248.99, the first delivery day below €250 since 28 October1. Desk arithmetic: the windiest day since 27 October was priced only €6.46 below Monday’s €259.311. The auction had already read the forecast. It priced the wind as a help, not a rescue.

None of this argues against turbines. It argues for patience with the figures: the first full-day generation numbers are provisional, they move, and a single day tells you about a single day1. Nothing here is investment advice.

What to watch

  • Thursday's day-ahead auction result, which SMARD publishes on Wednesday afternoon: the first price for 5 November1.
  • Whether Tuesday's provisional generation figures are revised; Monday's wind total has already moved by about one gigawatt hour since Tuesday afternoon1.
Desk comment

A turbine can change the weather report. It takes longer to change the merit order.

Sources

  1. Market data: realised generation (wind onshore, wind offshore, natural gas, lignite, hard coal, solar), grid load and residual load, 2 and 3 November 2026; day-ahead price DE-LU, delivery 1 Sep to 4 Nov 2026 — Bundesnetzagentur / SMARD.de, retrieved 04 Nov 2026, 05:20 CET.

Every figure in this piece traces to a source above or to the desk’s own arithmetic on those sources, marked as such. Quotations are short and attributed. Spot an error? Write to the desk; corrections are logged on the method page.

Commentary for information only. Not investment, legal, tax, medical or political advice. Not an offer or solicitation. Analysis may be incomplete or wrong. Charts show published public data, not a trading feed; binding numbers live with the institutions that publish them.