June 13, 2018 / 9:39 AM / 5 months ago

EUROPE POWER-Dip in demand and firm renewables weigh on spot prices

PARIS, June 13 (Reuters) - European spot electricity prices for day-ahead delivery fell on Wednesday, pressured by forecasts showing an expected dip in demand, and increased power generation from nuclear and solar power sources.

* The German over-the-counter baseload contract for Thursday delivery tumbled 6.8 percent, or 3.3 euros to 44.70 euros ($52.54) a megawatt hour (MWh).

* French day-ahead contract fell 2.6 percent to 45.25 euros/MWh.

* Electricity demand in both Germany and France will decrease on Thursday by around 200 megawatts (MW) and 700 MW respectively to a combined 108.8 gigawatts (GW) compared with 109.6 the previous day.

* Average temperature is expected to rise in both countries on Thursday, forecasts showed.

* A trader said that an expected rise in German solar output also weighed on prices.

* Electricity production from German solar sources is expected to increase on Thursday by around 2.5 GW day-on-day to 9.3 GW. Although wind generation will dip slightly, it will remain around 10 GW on Thursday, forecasts showed.

* German nuclear power generation is expected to improve with the restart of two reactors, while in France, nuclear power availability is at 69 percent of capacity. EDF’s 900 MW Dampierre 2 reactor is expected to restart on Thursday.

* Along the forward power curve, the German year-ahead baseload , Europe’s benchmark, was level at 42 euros/MWh, as oil, coal and carbon prices slipped.

* The less liquid French equivalent Cal’19 position added 0.2 percent to 46.65 euros.

* Benchmark European AP12 coal for 2019, dipped 15 cents to $90.10 a tonne.

* European carbon permits for December 2018 expiry , fell 0.2 percent to 15.11 euros a tonne.

* Related oil prices fell on Wednesday, hit by rising supplies in the United States and expectations that producer group OPEC could relax voluntary output cuts.

* In eastern Europe, the Czech day-ahead contract was untraded at its 49.50 euros/MWh close. Czech year-ahead was also untraded with a bid/ask price of 43.40/43.70 euros/MWh . ($1 = 0.8517 euros) (Reporting by Bate Felix, editing by Louise Heavens)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below