August 22, 2016 / 11:06 AM / a year ago

EUROPE POWER-Spot prices mixed, curve at 8-week low

* Heat wave due later this week

* Curve off, German Cal ‘17 lowest since June 29

* Uniper presents H1 figures before spin-off

FRANKFURT, Aug 22 (Reuters) - European prompt power on Monday was mixed, with German prices up on a drop in wind levels and those in France down as more nuclear capacity reopened for production.

German baseload for Tuesday delivery gained 1.15 euros to 30.25 euros ($34.16) per megawatt-hour (MWh) compared with the price paid for Monday while the equivalent French contract shed 1.25 euros to 33 euros.

According to Thomson Reuters data, Germany will shed 3.3 gigawatts (GW) in wind capacity to Tuesday to stand at 3.5 GW and remain at low levels, with solar gaining 1.5 GW to 6.5 GW.

A heatwave will set in from Tuesday when temperatures will jump by 2 degrees Celsius in both countries, bringing calm and sunny weather with rising temperatures through the weekend.

The German met office DWD said peak temperatures on Thursday could be 35 degrees, up 10 from Monday.

The weather trend will add a combined 3.4 GW of demand in Germany and France put together by Tuesday, and bring further sharp gains up to Thursday.

France relies more heavily on air conditioning than Germany which is more northerly and has far fewer units per capita.

French nuclear capacity online on Monday represented 64.3 percent of total availability, up from 60.8 percent recorded last Friday.

Power forward prices eased sharply, tracking oil and coal losses although the firmer gas curve and carbon offset some of the losses.

German baseload power for delivery next year was down 45 cents at 25.75 euros/MWh, the lowest level since June 29.

The equivalent French contract was indicated untraded, in a bid-ask range of 31.45-31.80 euros/MWh, having closed at 31.85.

European coal for 2017 delivery traded 1.7 percent down to $55.2 a tonne.

Front-year EU carbon allowance prices ticked up by 0.4 percent to 4.79 euros per tonne.

In eastern European power, the Czech year-ahead position shed 30 cents to 26.55 euros/MWh while the day-ahead position was at 30.2 euros compared with 29.5 euros paid for Friday.

Uniper, the the unit to be spun off from E.ON on Monday reported a 50 percent rise in first-half core profit on strong earnings from trading, which helped offset losses in European and Russian power generation.

As part of the presentations to the press and analysts, it also reported some forward hedge rates for Germany and Sweden.

$1 = 0.8854 euros Reporting by Vera Eckert; editing by Adrian Croft

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