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EUROPE POWER-German spot slips on supply, French prices firm on restart delays
June 21, 2017 / 11:15 AM / 6 months ago

EUROPE POWER-German spot slips on supply, French prices firm on restart delays

PARIS, June 21 (Reuters) - German day-ahead electricity prices fell on Wednesday on forecasts for higher supply from wind and coal power, but French spot prices were firm as several delayed reactor restarts curbed nuclear power availability.

* The German baseload electricity contract for Thursday delivery last traded at 36.00 euros ($40.13) per megawatt-hour (MWh), down 9.1 percent from the previous close.

* The equivalent French day-ahead price was up 0.6 percent at 43.00 euros/MWh

* Electricity production from German wind turbines is expected to rise on Thursday by 3.8 gigawatts (GW) to about 6.7 GW, while coal and lignite supply was projected to increase by around 1.4 GW, Thomson Reuters data showed.

* This outweighed an expected 950 MW fall in available German solar supply, and a projected 1 GW rise in consumption amid higher temperatures than previously forecast.

* In France, available French nuclear capacity was set to be curbed by the rescheduling of restart dates for several reactors that had been due to come back online between Tuesday and Thursday.

* An update from grid operator RTE also indicated that the Bugey 5 reactor was now expected to restart on June 30, instead of June 23. The reactor, which has been in maintenance since last year, was the scene of a fire on Monday.

* Separately, nuclear plant operator EDF said on Tuesday it was conducting work to reinforce structures to support emergency diesel generators at all of its 1,300-MW-sized reactors.

* A heatwave in France was forecast to continue on Thursday with temperatures set to reach the mid-30s Celsius across the country for the third day in a row.

* French electricity demand is seen rising by about 880 MW on Thursday to 53.7 GW.

* Along the forward curve, the German Cal ‘18 benchmark was down 0.8 percent at 30.80 euros/MWh, tracking weaker coal prices.

* The equivalent French contract was 0.7 percent lower at 36.85 euros/MWh.

* Coal cif North Europe was down 0.9 percent at $69.00 per tonne, while the December expiry EU carbon contract was unchanged at 4.95 euros a tonne.

* In eastern Europe, the Czech day-ahead contract was quoted 1.0 percent lower at 40.60 euros/MWh. The year-ahead contract was down 0.6 percent at 31.35 euros/MWh.($1 = 0.8972 euros) (Reporting by Gus Trompiz; editing by Jason Neely)

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