July 17, 2020 / 9:07 AM / 18 days ago

EUROPE POWER-Monday prices fall on weaker demand, more supply

FRANKFURT, July 17 (Reuters) - European electricity prices for Monday fell in Friday wholesale market trading on lower demand in the region, while renewable and conventional supply increased.

* The price of over-the-counter baseload for Monday delivery in Germany was down 11.4% from Friday’s price at 35 euros ($39.92) a megawatt hour (MWh) at 0900 GMT.

* The equivalent French contract was untraded at an asking price of 36 euros after Friday delivery had closed at 38 euros.

* Electricity generation from German wind turbines is expected at 4.9 gigawatts (GW) on Monday, Refinitiv data showed, nearly double the 2.6 GW indicated for Friday.

* French nuclear availability rose 1.4 percentage points to 59.1% of installed capacity.

* Power consumption is expected to slip 900 MW in Germany to 51.8 GW on Monday compared with the Friday level.

* French electricity demand was seen edging up by 400 MW to 45.9 GW. Average daily demand next week will likely be down 2-3 GW from the Friday level in the two countries.

* Along the forwards curve, Germany’s Cal ‘21 baseload rose 0.4% to 40.9 euros/MWh.

* The equivalent French contract lost 0.5% at 46 euros.

* December 2020 expiry European CO2 allowances gained 0.6% at 26.78 euros a tonne.

* Hard coal for northern European delivery in 2021 remained untraded in a bid-ask range of $59.6-60 a tonne, having closed at $59.4. It is still near its five-month high of $60.7 on Wednesday.

* Germany’s importers of hard coal said volumes could drop by 16-30% this year because of lower industry and energy demand and competition from renewables.

* Utility EnBW at its shareholder meeting upheld its 2020 guidance despite the coronavirus pandemic, saying income from telecommunications, grids and new renewables operations are due to offset some negative demand effects. ($1 = 0.8767 euros) (Reporting by Vera Eckert, editing by Rashmi Aich)

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