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EUROPE POWER-Tight supply lifts French prices, more solar weighs in Germany
May 2, 2017 / 11:45 AM / 7 months ago

EUROPE POWER-Tight supply lifts French prices, more solar weighs in Germany

PARIS, May 2 (Reuters) - European spot electricity prices for day-ahead delivery diverged on Tuesday as higher demand and tight nuclear power availability supported those in France, while in Germany, the contract was weighed sown by an increase in solar supply.

* The French baseload electricity contract for Wednesday delivery gained 4.75 euros to 46.50 euros ($50.76) per megawatt-hour (MWh) compared with the price paid on Friday for Tuesday delivery, its last trading day before the May Day holiday.

* The German spot for Wednesday delivery lost 1.45 euros to 33.05 euros (MWh), compared with the price paid on Friday for Tuesday delivery.

* French electricity demand is expected to rise by nearly 1 gigawatt (GW) on Wednesday to 54.4 GW as the average temperature is expected to remain slightly below seasonal norm, down 0.1 degree Celsius, Thomson Reuters data showed.

* In Germany, demand is expected to rise by 1.4 GW to 68.4 GW, the data also showed.

* French nuclear power supply is seen at 71.86 percent of capacity compared 76 percent on Thursday. The restart of two reactors on Tuesday was offset by an unplanned outage at EDF’s 1,300 MW Goldfech 1 reactor.

* In Germany, electricity output from wind turbines will fall by 3.3 GW to about 11 GW, while solar power availability will rise by 1.6 GW to 5.7 GW, according to the data.

* Along the power forward curve, prices were mixed with the German Cal ‘18 benchmark up 0.51 percent at 29.60 euros/MWh as coal firmed, while oil, gas and carbon fell.

* The equivalent French power contract fell 0.50 percent to 35.80 euros.

* Dec’ 17 expiry EU carbon slipped 0.88 percent to 4.53 euros a tonne, while coal prices cif North Europe for 2018 rose 0.31 percent to $66.95 a tonne.

* In eastern Europe, the Czech Wednesday contract fell 1.6 euros to 32.80 euros/MWh, while the year-ahead position was untraded after a 30.04 euro close. ($1 = 0.9160 euros) (Reporting by Bate Felix, editing by David Evans)

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