December 28, 2017 / 1:36 PM / 3 months ago

EUROPE POWER-Day-ahead prices slip on wind power, low demand forecast

PARIS, Dec 28 (Reuters) - European spot power prices for day-ahead delivery dipped on Thursday, pressured by forecasts for increased wind power generation and an expected fall in demand ahead of the weekend.

* The German baseload electricity contract for Friday delivery tumbled nearly 30 percent, or 10 euros to 23.50 euros ($28.06) a megawatt-hour (MWh).

* The French spot price for Friday delivery slipped nearly 10 percent, or 4.75 euros to 44.50 euros/MWh.

* German prices were also under pressure because France will not need much imported electricity from Germany, a trader said.

* French electricity demand is forecast fall by 1.4 gigawatts (GW) day-on-day on Friday to 66.5 GW, while the average temperature will rise by nearly 2 degrees Celsius, according to Thomson Reuters data.

* German power consumption is expected to fall by 860 megawatts to 66.7 GW. The average temperature is forecast to fall by 1.5 degrees Celsius.

* German wind power generation is forecast to increase by 3.5 GW to over 20 GW on Friday. In France, wind power output will rise by 2.5 GW to 6.2 GW on Friday.

* French nuclear power availability was steady at 88.78 percent of capacity on Thursday, but was expected to improve further with the scheduled restart of two EDF reactors later on Thursday.

* Along the forward curve, the year-ahead contracts expiring Dec. 31 were flat with little action, while January contracts fell on forecast for increased wind output.

* “We are getting closer to January and the wind forecast has not changed,” the trader said.

* Germany’s January delivery contract was down nearly 2 percent at 39.90 euros/MWh. The equivalent French January price fell 2.14 percent to 57.25 euros/MWh.

* The German year-ahead Cal’18 contract, the European benchmark, was flat at 37.70 euros/MWh. The French year-ahead contract added 0.09 percent to 44 euros/MWh.

* Carbon emissions rights for December 2017 expiry rose 0.49 percent to 8.21 euros a tonne. ($1 = 0.8376 euros) (Reporting by Bate Felix, editing by David Evans)

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