Sudden drop in wind power leads to Germany's electricity price breaking through 400 euros, reaching a new high in a year.

As wind power generation sharply drops, it forces the market to rely on more expensive fossil fuel power generation, causing electricity prices in Germany during peak hours on Thursday to soar to the highest level in nearly a year. According to data from Epex Spot, the average price of electricity contracts in Germany was 140 euros per megawatt-hour, while the price during the evening peak hours has risen to above 400 euros. Bloomberg's model predicts that at 8 pm on Thursday, wind power generation in Germany is expected to drop to a low of 1.5 gigawatts. This period coincides with the peak evening electricity demand and also marks the gradual decline of solar power generation.