April 3, 2017 / 12:23 PM / 8 months ago

EUROPE POWER-Spot lifted by forecast increase in demand, tight supply

PARIS, April 3 (Reuters) - European spot electricity prices for day-ahead delivery rose on Monday buoyed by a forecast of an increase in consumption and tight supply, while the year-ahead curve hit a four-week high after preliminary EU 2016 emissions data.

* French baseload power price for Tuesday delivery surged over 8 percent or 3 euros to 39 euros ($41.54) a megawatt-hour (MWh) compared with the price paid on Friday for Monday delivery.

* The German baseload for Tuesday gained 2.70 euros to 39.70 euros/MWh compared with the price paid for Monday delivery.

* Electricity demand is expected to rise by 2.6 gigawatts (GW) day-on-day on Tuesday in France to 54 GW, according to Thomson Reuters data. In Germany, consumption is forecast to rise by 1.4 GW during the same period.

* On the supply side, German wind power production will fall further on Tuesday by more than 1 GW to 2.4 GW, data shows.

* In France, coal, oil and gas fired power generation will fall slightly. Available French nuclear power is seen at 73 percent of capacity.

* France could face further tight supply on Tuesday after utility EDF said on Monday that it has been notified of a 24-hour strike in the French gas and electricity sector starting at 1900 GMT.

* A similar strike last week cut French power output by 5 GW.

* Along the forward curve prices hit a four-week high after the publication of preliminary EU 2016 carbon emissions data, and supported by firmer fuels, a trader said.

* Oil was steady, while gas, coal and carbon rose.

* The baseload German Cal‘18 contract gained 2.71 percent to a 30.30 euros/MWh, a level last seen on March 8.

* The equivalent French contract rose nearly 2 percent to 36.15 euros/MWh, a level last reached on March 1.

* European coal prices for 2018 rose 1.36 percent to $67.25 a tonne. EU carbon emissions rights for Dec ‘17 expiry jumped nearly 3 percent to 4.83 euros a tonne.

* In eastern Europe, the Czech day-ahead contract, which follows the German market closely, rose by 2.25 euros to 38.25 euros. The year-ahead position gained 1 percent to 30.25 euros/MWh. ($1 = 0.9388 euros)

$1 = 0.9381 euros Reporting by Bate Felix; Editing by Edmund Blair

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