July 24, 2020 / 9:57 AM / 10 days ago

EUROPE POWER-Forecast drop in wind generation lifts German spot for Monday

PARIS, July 24 (Reuters) - The spot electricity price for early next week delivery in Germany rose on Friday due to a projected decrease in wind power supply, while low demand weighed on the French price.

* The price of over-the-counter baseload for Monday delivery in Germany was up 4.7% to 33.25 euros ($38.58) a megawatt hour (MWh) at 0932 GMT, compared with the price paid on Thursday for Friday delivery.

* The French contract for Monday delivery dipped 1.5% to 35 euros/MWh over the same period.

* Electricity generation from German wind turbines is expected to fall by 4.6 gigawatts (GW) on Monday to 5.3 GW, Refinitiv Eikon data showed.

* German solar power production is forecast to add 1 GW to 9.2 GW over the same period.

* French wind power supply is expected to decrease by 770 megawatts (MW) to 1.6 GW on Monday, while solar power is seen increasing 230 MW to 2.6 GW, the data showed.

* French nuclear power availability remained unchanged on Friday at 59.1% of available capacity.

* On the demand side, power consumption is expected to slide 1.2 GW in Germany to 50.7 GW on Monday, the Refinitiv data showed.

* French electricity demand is expected to increase by 880 MW to 46 GW on Monday, the data showed.

* Further along the power curve, Germany’s Cal ‘21 baseload , the European futures benchmark, slipped 1.2% to 40.10 euros/MWh, tracking falling carbon permit prices.

* The equivalent French year-ahead contract was untraded after settling at 45.30 euros/MWh on Thursday.

* December 2020 expiry European CO2 allowances shed 2.6% to 26.63 euros a tonne.

* Hard coal for northern European delivery in 2021 added 0.1% to $59.80 a tonne.

* Thermal coal prices are expected to start recovering from lows seen this spring as demand for power grows in tandem with countries loosening COVID-19 restrictions and as more lenders tighten financing for new capacity. ($1 = 0.8618 euros) (Reporting by Forrest Crellin; Editing by Mark Potter)

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