August 16, 2019 / 10:04 AM / 4 months ago

EUROPE POWER-Monday prices increase on tighter supply expectations

FRANKFURT, Aug 16 (Reuters) - Tighter nuclear supply in France and medium term prospects for lower wind supply in Germany lifted wholesale market prices for Monday and next week in Friday trading.

* German over-the-counter baseload for delivery on Monday traded at 36.1 euros ($40.00) a megawatt hour (MWh), up 2.1% from the price paid for Friday.

* The contract’s French equivalent was untraded compared with 29.75 euros paid for Friday, which fell between the Assumption Day holiday on Thursday and the weekend.

* Refinitiv Eikon data showed German wind turbine production may rise to 11.4 gigawatts (GW) on Monday from 8.9 GW on Friday. Although that is an increase, generally, daily levels will likely tend to range between 4.2 and 11.4 GW over the next working week, down from up to 30 GW seen recently.

* In the French nuclear sector, reactor availability fell to 61.75% from 63.02% of the maximum a day earlier.

* On the demand side, power usage for Monday is expected to ease by 400 MW from Friday’s level in Germany to stand at 59.4 GW, and lose 2 GW on average in the next week.

* France, on the other hand, is expected to see a level of 41.3 GW on Monday, compared with 40.5 GW on Friday, and the weekly average is estimated to be 42.5 GW.

* Along the forward power curve, German year-ahead baseload power , the European benchmark, was 0.1% up at 48.2 euros, but still near levels last seen in early July amid fuel and carbon price gains.

* The equivalent French year-ahead power contract shed 1.4% to 50.7 euros.

* The price of European CO2 permits for December 2019 was 1% up at 26.25 euros a tonne.

* Hard coal for northern European delivery in 2020 inched 0.2% higher to $64.3 tonne.

* In eastern Europe, Czech Monday baseload did not trade after Friday closed at 36 euros. Year 2020 delivery baseload lost 0.3% to 51 euros. ($1 = 0.9025 euros) (Reporting by Vera Eckert; Editing by Mark Potter)

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