April 11, 2017 / 10:51 AM / 4 months ago

EUROPE POWER-German prices weighed by increased wind output in mixed spot

PARIS, April 11 (Reuters) - European spot power prices for day-ahead delivery diverged on Tuesday as a forecast increase in electricity from wind turbines weighed on the German contract, while prices in France pared earlier losses after utility EDF said it had been notified of a strike on Wednesday.

* French baseload power for Wednesday delivery gained 2.78 percent, or 1 euro, to 37 euros ($39.24) a megawatt-hour (MWh).

* The German contract tumbled 9.23 percent, or 3 euros, to 29.50 euros/MWh.

* French state-controlled utility EDF said it had received notice of a strike by workers at its electricity production units starting on Wednesday April 12 at 0500 GMT.

* Workers in the French gas and electricity sector have carried out weekly rolling strikes since January to protest against wage freezes and cuts in benefits in the sector.

* Available French nuclear capacity is expected to fall by 2.6 gigawatts (GW) on Wednesday, according to Reuters data. Nuclear power is seen at 72.6 percent of capacity.

* In Germany, wind power supply will rise by 6.5 GW day-on-day on Wednesday to 21.7 GW, the data showed. Solar availability is at 4.8 GW, down 870 megawatts during the same period.

* Marex Spectron analyst Giacomo Masato said in a note that renewable wind power generation, particularly wind power, is expected to increase in the next five to 10 days, while solar is seen to decline.

* Along the forward curve, the German Cal '18 benchmark price fell 0.51 percent to 29.40 euros/MWh, dragged down by weaker coal and oil.

* The equivalent French contract did not trade after a 35.65 euro close.

* Crude oil eased from a five-week high on Tuesday as rising U.S. shale oil production offset concerns over political tensions in the Middle East and output cuts being made to support prices.

* Coal cif Europe 2018 fell 1.23 percent to $64.50 a tonne.

* EU carbon emissions rights rose 1.46 percent to 4.83 euros a tonne after the European Union sold 4.262 million spot EU carbon permits on EEX at 4.77 euros per tonne.

* In eastern Europe, the Czech power contract for Wednesday fell 10.85 percent to 28.75 euros. The year-ahead position fell 1 percent to 29.40 euros/MWh. ($1 = 0.9430 euros) (Reporting by Bate Felix, editing by Louise Heavens)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below