FRANKFURT, March 16 (Reuters) - European power curve prices set fresh lows of around two years on Monday, dragged down by bearish pressure on fuels and carbon markets over concerns about evaporating demand should the coronavirus pandemic push the global economy into recession.
* Germany’s Cal ‘21 baseload, the European futures benchmark, lost 3.4% to trade at 37.5 euros ($41.96) a megawatt hour (MWh), its lowest level since June 2018 at 1215 GMT.
* The equivalent French year-ahead contract was 2.8% down at 40.2 euros, its lowest since February 2018.
* December 2020 expiry European CO2 allowances dropped by 9.2% to 19.92 euros a tonne, the lowest in 13 months.
* Hard coal for northern European delivery in 2021 edged up 0.7% to $56 a tonne, but remains near four-year lows set last week. Major consumer China has seen Jan/Feb demand fall as mining and steelmaking suffered a downturn due to the coronavirus crisis.
* Spot power prices were weak because of more wind being expected in main producer country Germany and because virus-related restrictions are curtailing commercial activity in main markets.
* This brought day-ahead levels close to typical weekend prices while the weeks ahead also posted sharp losses.
* Power for Tuesday baseload delivery in Germany was 8.5% off at 29.5 euros, compared with the Monday delivery price and in France was down 11.6% at 28.5 euros.
* Electricity generation from German wind turbines is expected to rise by 1 gigawatt (GW) day-on-day to come in at 11.9 GW on Tuesday, Refinitiv data showed.
* Power consumption is expected to gain 1.5 GW day-on-day in Germany to 68 GW on Tuesday, but fall to an average 64.6 GW next week.
* Usage in France will likely remain virtually unchanged at 57.5 GW up to Tuesday and nudge up to 58 GW next week when temperatures, currently warm, are expected to fall by 2-3 degrees Celsius again.
* In eastern Europe, Czech Tuesday baseload was untraced after Monday closed at 47.8 euros. Year-ahead power shed 3.9% to trade at 43 euros.
* French power grid operator RET is due to implement a continuity plan from Monday to allow its network to continue running while the government steps up measures to curb the coronavirus outbreak. ($1 = 0.8937 euros) (Reporting by Vera Eckert; Editing by Pravin Char)