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EUROPE POWER-Spot up for early next week as wind volumes ebb
March 31, 2017 / 11:02 AM / 8 months ago

EUROPE POWER-Spot up for early next week as wind volumes ebb

FRANKFURT, March 31 (Reuters) - European spot electricity prices for Monday delivery rose in the wholesale market on Friday, following forecasts for slow wind speeds that will cut renewable generation volumes, while demand was broadly flat in the main markets.

* French baseload for Monday was up 15 percent from levels paid for Friday at 36 euros ($38.43) a megawatt hour (MWh) and German baseload for Monday was also at 36 euros/MWh , up 16 percent.

* Likely German wind output levels were pegged at between 2.2 and 4 gigawatts (GW) on Monday, compared with levels anticipated for Friday of 6.1 to 6.6 GW, Thomson Reuters data showed.

* Electricity demand in both countries is to remain at around 112.5 GW on Monday compared with the same level on Friday.

* Temperatures are due to ease but this is from an unusually high level for the time of year. The average temperature in Germany is forecast to be 10.1 degrees Celsius on Monday, down 5.1 degrees from Friday, and 12.1 degrees in France, down 2.4 degrees in the same period.

* French nuclear power availability is stable at 76 percent of capacity.

* Power station operators in Germany and Austria are set to curb capacity availability by a marginal 0.5 percent over the next seven days at their generation plants, European Energy Exchange (EEX) data showed.

* Along the forward curve prices were mixed, with Germany’s Year Ahead benchmark flat and that in France higher.

* Oil, gas and carbon prices weakened while coal made gains.

* The German baseload Cal ‘18 power contract for delivery next year remained at 29.7 euros/MWh.

* The equivalent French contract gained 30 cents to 35.75 euros/MWh.

* European coal prices for 2018 were 0.6 percent up at $66.40 a tonne. Carbon emissions rights for Dec ‘17 expiry were down 0.4 percent at 4.9 euros a tonne.

* Shares in Germany’s RWE rose after a buy recommendation from Oddo Seydler, a Franco-German financial services group, citing positive power prices outlook, its stake in Innogy, potential to raise dividends and its high valuation.

* In eastern Europe, the Czech day-ahead contract, which follows the German market closely, rose by 5 euros to a Monday level of 36 euros, identical with Germany and France. The Czech year-ahead position increased by 30 cents to 29.9 euros/MWh.

* ($1 = 0.9367 euros) (Reporting by Vera Eckert; Editing by Greg Mahlich)

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