FRANKFURT, July 4 (Reuters) - European wholesale prompt power on Wednesday dropped on higher wind and thermal supply forecasts while forward prices stayed below new contract highs set in the previous session.
* Traders said that demand was easing as Europe was moving further into the summer holiday period. This meant the market shrugged off news of some unexpected French reactor disruptions, causing some additional supply shortfalls from next week.
* Paluel 4 will be off line July 7-9, 14-16 and 21-23, utility EDF said. Cattenom 4 will be out between July 7 and 9, and 14-16.
* German OTC baseload power for Wednesday was down 7.4 percent at 50.45 euros ($58.67) a megawatt hour (MWh), while the equivalent French contract was 4.4 percent down at 54.75 euros.
* Wind supply in Germany will likely rise to 5.1 gigawatts (GW) on Thursday from 1.6 GW expected for Wednesday and range between 4.7 and 13.1 GW over the next fortnight, according to Thomson Reuters data.
* Power demand in Germany and France put together will likely rise by 200 MW day-on-day to 110.3 GW on Thursday.
* Curve traders were eyeing fuel and carbon prices patterns, which were volatile after recent rallies brought about by a combination of tight oil, more global coal demand and EU reforms to lift mandatory carbon permit prices.
* Germany’s Cal’19 baseload, the European power benchmark, was 0.8 percent up at 44 euros/MWh, in sight of the 10 cents higher contract high.
* The equivalent French Cal’19 position shed 0.1 percent to 48.85 euros, 15 cents short of its Tuesday record.
* The continuous German year-ahead position on the EEX bourse remains at its highest since January 2013.
* European carbon permit prices for December 2018 expiry were up 2 percent at 15.41 euros, having started out lower.
* The price of European delivery AP12 coal for imports in 2019 was untraded in the morning session. An important fuel input for German generators, the contract had set a record $91.5 a tonne on Tuesday.
* In eastern Europe, Czech Thursday baseload increased by 7 percent to 50 euros. Czech year-ahead gained 0.7 percent to 45.3 euros.
* A drop in the number of new German wind power projects coming on stream in 2019 and the early 2020s could make it harder to achieve economies of scale and hit investment, said the country’s VDMA engineering group. ($1 = 0.8598 euros) (Reporting by Vera Eckert; Editing by Kirsten Donovan)