December 7, 2016 / 8:39 AM / 8 months ago

Europe day ahead power down early, next week prices up

2 Min Read

FRANKFURT, Dec 7 (Reuters) - Spot power prices in Germany and France were down early on Wednesday on expectations for higher renewable energy output while prices for next week jumped on a tighter supply picture, traders said.

Prices for delivery on Thursday were down 22 percent at 30.3 euros ($32.48) per megawatt hour in Germany and down 10 percent in France at 54.3 euros.

Thomson Reuters data showed that wind supply in Germany was expected to rise to 14.8 gigawatts (GW) on Thursday from 8.5 GW on Wednesday.

Germany week ahead power was up 4.5 percent at 41.5 euro/MWh and French week ahead power was up 8.5 percent at 64 euros.

German wind levels then are expected to settle back to around 5 GW each day and in the French nuclear sector, operator EDF overnight said that the 910 megawatt Bugey 3 reactor would be out of service between Dec. 10 and 18.

Concern about tight French nuclear reactor output has been boosting prices since October and continues to cause high intraday volatility as cold winter weather creates high demand.

$1 = 0.9329 euros Reporting by Vera Eckert; editing by Jason Neely

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