January 10, 2018 / 11:38 AM / 2 months ago

CORRECTED-EUROPE POWER-Cold snap forecast lifts demand, day-ahead power prices

(Corrects to show data includes Austria in bullet points 4,5,7)

PARIS, Jan 10 (Reuters) - European prompt power prices for next day delivery rose on Wednesday buoyed by an expected rise in consumption due to cold weather, amid a slump in wind and solar power generation.

* The German baseload electricity contract for Thursday delivery gained nearly 10 percent, or 4.25 euros to 47.25 euros ($56.57) a megawatt-hour (MWh).

* The equivalent French contract was up 4 euros at 47.50 euros/MWh.

* “This is mostly due to the cold weather forecast. We have lost about 1 degree Celsius below seasonal levels since yesterday,” a Paris-based traded said.

* Electricity demand in Germany and Austria is expected to rise by over 1 gigawatt (GW) day-on-day on Thursday to 81.3 GW, according to Thomson Reuters data.

* Average temperature in Germany and Austria will fall by 2 degrees Celsius on Thursday, the data showed.

* In France, consumption will increase by 730 megawatts (MW) to 68.3 GW, while average temperature drops by 1 degree Celsius.

* On the supply side, German/Austrian wind power production continues to drop, down by over 3 GW on Thursday to 2.5 GW. Solar power availability will fall by 820 MW to under 1 GW.

* French wind power generation will tumble by 2.1 GW to 1.8 GW on Thursday.

* However, French nuclear power availability is forecast to remain steady at over 93 percent of capacity.

* Along the forward power curve, Germany’s year-ahead Cal’ 19 delivery contract, the European benchmark, slipped 0.41 percent to 36 euros/MWh.

* The equivalent French year-ahead contract dipped 0.12 percent to 41.20 euros/MWh.

* Cif Europe coal for 2019 fell nearly 2 percent to $84.75 a tonne.

* December 2018 expiry carbon emissions permits added 0.39 percent to 7.81 euros a tonne.

* In eastern Europe, the Czech day-ahead power was untraded. The year-ahead contract was down 1.33 percent at 37 euros. ($1 = 0.8353 euros) (Reporting by Bate Felix; Editing by Jon Boyle)

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