September 27, 2018 / 3:11 PM / 8 months ago

EUROPE POWER-Curve trades higher as carbon prices bounce back

(Adds forwards prices gains in afternoon, nuclear news)

FRANKFURT, Sept 27 (Reuters) - European power forwards rose in Thursday afternoon wholesale market trading, as carbon prices reversed morning losses to move up and oil edged higher, while coal and gas prices remained negative.

* German baseload for 2019 delivery, the European benchmark, gained 2 percent to 53.9 euros ($62.98) a megawatt hour (MWh), and other increases on the German curve went right through to 2022

* The equivalent French Cal’19 contract was 0.6 percent higher at 59.4 euros.

* European December 2018 expiry carbon allowances, which power generators must hold to cover their output, jumped 3.4 percent to 20.93 euros a tonne, up from an intraday low of 19.62 euros.

* European delivery API2 coal for 2019, another big generation cost input, was down 0.4 percent at $97.8 a tonne.

* BayernLB bank said in a research note that although global coal demand indications had been weaker of late, there were no fundamental nor chart-driven reasons for a change in coal’s uptrend.

* Spot electricity prices eased on higher wind power supply and falling demand in Germany, with week-ahead levels in the two main markets Germany and France down even further.

* The German baseload power position for Friday delivery fell 0.9 percent to 53 euros.

* The equivalent French day-ahead contract lost 4.2 percent to 61.3 euros/MWh.

* Week-ahead baseload contracts shed 8.9 percent in Germany and 1.5 percent in France respectively.

* German wind power output will probably rise to 13.7 gigawatts (GW) on Friday from an expected 11.3 GW Thursday, Thomson Reuters data showed.

* French wind levels will rise to 2.9 GW in the same period from 1.4 GW, while next week, daily supply levels in both countries will likely be sharply higher, the data showed.

* The demand side will be split, with Germany losing 5 GW of daily consumption next week on average, compared with Thursday’s level, while usage in France will gain 1 GW.

* Latest news in the French nuclear sector entailed utility EDF reporting that its Gravelines 6 plant was adding one day to its outage to reopen Friday, as would Paluel 4. Chooz 1, having reopened Tuesday, goes offline overnight and Flamanville 2 is due to close between Oct. 6 and 7.

* In eastern Europe, Czech year-ahead, which often tracks its German counterpart, gained 1 percent to 55.53 euros/MWh. Day-ahead delivery lost 3.5 percent to 52.35 euros/MWh. ($1 = 0.8559 euros) (Reporting by Vera Eckert; Editing by Dale Hudson and Mark Potter)

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