July 15, 2020 / 10:59 AM / 19 days ago

EUROPE POWER-French spot prices rise with demand, German spot ticks down

PARIS, July 15 (Reuters) - European spot electricity prices for Thursday delivery diverged, with French prices climbing on increased demand and the German market edging lower as consumption flattened.

* The price of over-the-counter baseload for Thursday delivery in France gained 4.1% to 39.80 euros ($45.50) a megawatt hour (MWh) at 1038 GMT.

* The German day-ahead contract dipped 0.6% to 42.50 euros/MWh.

* Power consumption in France is forecast to increase by 1.7 gigawatts (GW) to 46.2 GW on Thursday, Refinitiv Eikon data showed.

* German consumption is expected to stay nearly flat at 53.2 GW day on day, the data showed.

* The average temperature in Germany is expected to drop 1.3 degrees Celsius on Thursday, while the average French temperature is forecast to rise 0.3 degrees Celsius.

* Electricity generation from German wind turbines is expected to dip by 270 megawatts (MW) day-on-day to 2.4 GW on Thursday, Refinitiv Eikon data showed.

* French wind power supply is expected to tick down 60 MW to 2.1 GW, the data showed.

* French nuclear power availability remained unchanged on Wednesday at 57.7% of available capacity.

* France’s EDF has opened a nuclear design centre in Britain to help support construction of its new power plants in the country, the company said on Wednesday.

* The French fourth quarter delivery contract rose 1% to 56.15 euros/MWh.

* Year-ahead contracts tracked rising carbon and oil prices.

* Germany’s Cal ‘21 baseload, the European futures benchmark, added 1.3% to 43.15 euros/MWh.

* The equivalent French year-ahead contract gained 1.1% at 47.85 euros/MWh.

* December 2020 expiry European CO2 allowances climbed 0.9% at 29.91 euros a tonne.

* Hard coal for northern European delivery in 2021 jumped 2.8% to $60.65 a tonne, the highest level since Feb. 17. ($1 = 0.8748 euros) (Reporting by Forrest Crellin; Editing by Barbara Lewis)

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