November 22, 2018 / 12:24 PM / a month ago

EUROPE POWER-French day-ahead spot slips on expected fall in demand

PARIS, Nov 22 (Reuters) - The French spot electricity contract for day-ahead delivery extended its slide on Thursday as forecasts showed demand would ease due to mild temperatures, while an expected drop in wind power generation supported the German position.

* The German baseload power contract for Friday delivery added 2.5 percent to 82 euros ($93.57) a megawatt hour (MWh).

* The French contract for Friday delivery dropped 12 percent to 86 euros/MWh.

* French power consumption is expected to decrease by over 3 gigawatts (GW) on Friday to 68.1 GW, according to Refinitiv Eikon data. The average temperature in France is expected to rise by 1.6 degrees Celsius.

* French nuclear power availability rose over 1.5 percentage points to 75.5 percent of maximum capacity on Thursday, adding pressure to the French contract.

* Wind electricity generation in France will increase by nearly 600 megawatts (MW) to 930 MW.

* In Germany, demand is expected to drop ahead of the weekend by 1.3 GW to just over 70 GW.

* Electricity production from German wind turbines will fall by over 5 GW on Friday to 5.8 GW, Refinitiv Eikon data showed.

* Other contracts at the front of the power curve were also lower on Thursday due to due to forecasts showing mild and windier weather next week, a trader said.

* The French Week 1 contract fell nearly 10 percent to 82.50 euros/MWh. The German equivalent was down 6.4 percent at 61.85 euros/MWh.

* Year-ahead power contracts slipped, tracking the fall in coal, gas, oil and carbon emissions permit prices.

* European December 2018 expiry CO2 allowances dipped 0.7 percent to 20.34 euros a tonne.

* The German baseload electricity contract for 2019 delivery , the European benchmark, fell nearly 1 percent to 51.30 euros/MWh.

* The equivalent French Cal’19 contract was at 56.34 euros/MWh, down 0.9 percent.

* European delivery API2 coal for 2019 fell 0.8 percent to $83.30 a tonne.

* In eastern Europe, the Czech day-ahead spot, gained 6.5 percent to 81.25 euros/MWh. The year-ahead baseload fell 0.5 percent to 53.45 euros/MWh. ($1 = 0.8763 euros) (Reporting by Bate Felix; Editing by Alexandra Hudson and Mark Potter)

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