July 11, 2017 / 9:12 AM / a year ago

EUROPE POWER-Spot prices fall on more supply, lower demand

FRANKFURT, July 11 (Reuters) - European prompt power prices fell on Tuesday as wind and thermal power supply increased, while cooler weather temporarily in parts of the region dented demand.

* Traders said the trend was unlikely to last mid-term.

* Unseasonally high wind speeds and cooler temperatures this week could easily give way by next week to very warm and dry conditions, seen already in June, they said. That should boost prices, they added.

* The German baseload contract for Wednesday delivery dropped 6.6 percent to 35.3 euros ($40.2) a megawatt hour (MWh).

* The equivalent French contract declined 5.2 percent to 36.8 euros/MWh.

* German electricity demand for Wednesday will fall 100 MW to 61 gigawatts (GW) and demand in France will stay at 48.4 GW, Thomson Reuters data predicted.

* Electricity production from German wind turbines is forecast to rise to 9.3 GW on Wednesday from 5.9 GW on Tuesday.

* Along the curve, the benchmark German electricity contract for 2018 was up by just 0.3 percent at 31.53 euros/MWh. This was well below a two-year high of 31.98 euros recorded in the previous session after a rally in coal prices.

* The equivalent French year-ahead contract lost 1.5 percent to 37.2 euros/MWh.

* Coal cif North Europe was down 0.4 percent at $71.8 a tonne, off 90 cents from an eight-month high of $72.7 it touched last Thursday in the global context of low output in Australia and Chinese buying.

* Coal-fired electricity generation accounts for more than 40 percent of German power output.

* In a related market, the Dec ‘17 expiry carbon pollution rights, which electricity generators must hold to offset their emissions, gained 0.9 percent to 5.45 euros a tonne.

* In Eastern Europe, the Czech Wednesday delivery contract jumped 90 cents to 50.5 euros/MWh. The Czech year-ahead contract was untraded after a previous settlement price of 32.34 euros/MWh. ($1 = 0.8773 euros) (Reporting by Vera Eckert; Editing by Susan Fenton)

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