FRANKFURT, June 27 (Reuters) - German prompt power fell on Wednesday as the country was set to receive more wind power supply on the day-ahead while forwards gained sharply along with increases in related coal prices.
* German OTC baseload for Thursday dropped by 3.6 percent to 45.25 euros ($52.66) per megawatt hour (MWh) while the equivalent French contract edged 0.2 percent up to 47 euros.
* Thomson Reuters data showed German wind power output was likely to increase to 7.9 gigawatts (GW) day-on-day from 4.3 GW, with daily average of between 2.8 to 9.5 GW predicted over the next fortnight.
* Temperatures are due to rise steadily as summer progresses but are short of levels where air conditioning demand soars, while the impact of holidays weighed on consumption prospects for the coming weeks.
* As for the mid-term prices outlook, most coming weeks posted small gains on Wednesday. But Thomson Reuters analysts said they were bearish, as was broker Marex Spectron’s analyst Giacomo Masato, who cited more renewable supply and a lack of peaking demand.
* “The trend is for high-pressure from the Nordic to move to central Europe in July, which will not be exceptionally strong,” he said. “But it means increased solar output in Germany, while wind-wise, there will not be much difference.”
* Day-on-day power demand was seen moving up by 400 MW in Germany to 62 GW and be unchanged in France at 47.2 GW.
* Along the curve, Germany’s Cal’19 baseload contract went up by 0.8 percent to 42 euros/MWh and the contract’s French equivalent clocked up 1.6 percent to 46.85 euros.
* European AP12 coal for 2019, a benchmark price especially for German thermal generators buying from the world market, was up 0.9 percent at $87.45 a tonne.
* The contract has gained 3.8 percent over the last week, reconnecting with rallies earlier this month, due to Chinese demand. But it is short of a 2018 high of $90.6 on June 13.
* European carbon permits prices for December 2018 expiry were up 0.5 percent at 15.11 euros a tonne.
* In eastern Europe, the Czech day-ahead power contract nearly doubled to 46.75 euros after an exceptionally low close of 24 euros on Tuesday. Czech year-ahead power did not change hands, having closed at 42.65 euros. ($1 = 0.8593 euros) (Reporting by Vera Eckert; editing by David Evans)