Morning edition · Tuesday, 10 November 2026
€351.48 for Tuesday: a second record in two days, with the peak moved to breakfast
Monday's auction for Tuesday delivery cleared a few euros above Monday's record. The wind came back a little; not nearly enough to matter.
The day-ahead auction for Tuesday 10 November cleared at a German-Luxembourg daily average of €351.48 per megawatt hour, the SMARD series shows1. That is €5.84 above Monday’s €345.64, which had itself been the dearest delivery day of 2026, so the year.s record has been broken on two consecutive delivery days (Desk arithmetic)1. On 10 November 2025 the same series stood at €109.89; Tuesday’s price is about 3.2 times that (Desk arithmetic)1.
Line chart of the daily average German-Luxembourg day-ahead electricity price from 1 September to 10 November 2026, in euros per megawatt hour. It falls to €13.12 on Sunday 25 October during the storm, climbs to €314.85 on Thursday 29 October, and stays between €242.13 and €275.64 on every delivery day from 2 to 8 November. It jumps to €345.64 on Monday 9 November. The latest value is €351.48 for delivery on Tuesday 10 November, the highest daily average of 2026 on the SMARD series, €5.84 above Monday and about three times the €109.89 of 10 November 2025.
Source Bundesnetzagentur | SMARD.de day-ahead DE-LU daily averages, delivery days 1 Sep to 10 Nov 2026 (Tuesday 10 Nov €351.48, auction of 9 Nov), retrieved 10 Nov 2026 · CC BY 4.0. Bundesnetzagentur | SMARD.de, market data. CC BY 4.0.
Data (CSV) · SVG · PNG
Latest values as a table
| Date | Day-ahead DE-LU |
|---|---|
| 2026-11-05 | 257.38 |
| 2026-11-06 | 275.64 |
| 2026-11-07 | 259.83 |
| 2026-11-08 | 242.13 |
| 2026-11-09 | 345.64 |
| 2026-11-10 | 351.48 |
The shape moved. Monday’s pain sat in the evening, with €644.18 at 17:00. Tuesday’s dearest hour is 08:00 at €494.05, about €150 lower than Monday’s peak (Desk arithmetic)1. The breakfast block is the expensive one now: Desk arithmetic: the four hours from 07:00 to 11:00 average €461.00. A second hump follows in the late afternoon, €483.35 at 16:001. The gap between the dearest and the cheapest hour is €274.39, against €420.91 on Monday (Desk arithmetic)1.
The reason has not changed. SMARD’s generation forecast puts onshore and offshore wind together at about 99.1 gigawatt hours for Tuesday, up from about 71.6 GWh on Monday, but still less than a quarter of the roughly 416.9 GWh forecast for Wednesday 4 November (Desk arithmetic, from2). A little more wind flattened the evening; it did not bring the average down.
For you. A fixed tariff absorbs days like this; the auction sets the wholesale leg, and grid fees, taxes and levies sit on top. On a dynamic tariff, Tuesday asks for a different habit from Monday: the morning, not the evening, is the block to avoid for the dishwasher or the car charger1. The price for Wednesday will be public, free, by early afternoon. Nothing here is investment advice.
What to watch
A record broken by €5.84 is not a trend. It is a weather report with a price tag.
Sources
- Marktdaten: Großhandelspreise DE/LU day-ahead, hourly and daily (filter 4169) — Bundesnetzagentur | SMARD.de, retrieved 10 Nov 2026, 05:15 CET.
- Marktdaten: prognostizierte Erzeugung Wind Onshore and Wind Offshore (filters 123, 3791) — Bundesnetzagentur | SMARD.de, retrieved 10 Nov 2026, 05:16 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.