* French spot for Tuesday at 63 euros
* French demand to jump by 2.5 GW to Tuesday
* Forward prices down along with coal, CO2, oil, gas
FRANKFURT, Oct 10 European power prices for
day-ahead delivery on Monday traded at their highest levels
since January as demand increased due to colder weather, but
they were below new spot price highs hit late last week.
"The underlying picture of colder weather and lingering
doubt about the robustness of French nuclear supply underpin the
market, although we're down from last week," one trader said.
France's spot power price for Tuesday delivery, at
63 euros ($70.57) a megawatt hour, was 17 euros up from Sunday's
close, but 10.25 euros down from the close of the Monday
delivery position (day 3) last Friday.
The position is at the highest level seen for day-ahead
since January 20, which was a typical winter day spike, although
to date, there are no severely cold temperatures.
The German contract for Tuesday, at 38.7
euros/MWh, was down from 46 euros paid for Monday last week, but
also at the highest day-ahead level since Jan. 18.
Prices for French week ahead and two-week ahead delivery
eased from their previous settlements by 24 and 18 percent,
Both spot and forward electricity contracts rose more than
the last fortnight on worries that France, which depends on
nuclear for 75 percent of its demand, could face tight supply on
increased outages and output cuts from its 58 nuclear reactors.
Thomson Reuters data showed that French power demand will
rise by 2.5 gigawatts (GW) to 56.8 GW on Tuesday, compared with
Monday levels, while Germany's demand will rise by 1.6 GW.
German solar availability on Tuesday will be down 0.7
gigawatts (GW) from Monday, reaching 3.3 GW, and wind supply
will more than halve to 5.4 GW.
Along the forward power curve, prices fell alongside those
in markets that are related to power.
The German benchmark Cal'17 year-ahead baseload
contract was down by 45 cents at 30.05 euros, while the less
liquid equivalent French contract dropped by 1.9
euros to 39.6 euros /MWh.
Front-year EU carbon allowances fell 2.1 percent
to 5.57 euros a tonne.
Coal, which accounts for more than 40 percent of German
power generation, fell 4.3 percent to $63.7,
reversing a recent rally.
The current 2017 price represents a one-week low, but levels
above $63 were last seen 18 months ago.
In eastern European power, the Czech year-ahead 2017
contract shed 70 cents to 30.60 euros/MWh, while the
day-ahead spot fell 3.35 euros to 50 euros/MWh.
($1 = 0.8928 euros)
(Reporting by Vera Eckert,; Editing by Louise Heavens)