February 26, 2019 / 3:42 PM / 8 months ago

EUROPE POWER-Prompt prices down as wind output set to rise

FRANKFURT, Feb 26 (Reuters) - A rise in German wind power generation this week combined with lower demand and mild weather in Europe pressured German and French spot power prices on Tuesday.

* Day-ahead baseload power was down 2.3 percent in Germany at 43.25 euros ($49.10) per megawatt hour (MWh).

* The equivalent French contract lost 2.8 percent to 42.75 euros/MWh.

* German power consumption up to Friday will slip to 70 gigawatts (GW), 400 MW down from the Tuesday level, and that in France will likely fall to 59.4 GW, down 1.3 GW from Tuesday, according to Refinitiv Eikon data.

* On the supply side, generation output from German wind turbines is expected to rise to 5.3 GW on Wednesday, up 1.6 GW, and go up to 6.6 GW on Thursday.

* Further ahead, it looks set to range between 22 and 30 GW each day on the five working days of next week.

* French nuclear reactor availability remained unchanged from Friday at 87.5 percent of the total.

* The German met office wrote in a daily note of “spring-like weather” that will be dry and warm, approach 20 degrees Celsius during midday peaks up to Thursday in some regions.

* However, by Friday a low pressure front will arrive and temperatures will fall from that day onwards to show lower averages next week.

* Prices on the forwards curve rose sizeably along with strong gains in the coal and carbon emissions rights markets.

* Germany’s Cal ‘20 baseload power, the European benchmark, gained 0.6 percent to 45.55 euros.

* The equivalent French year-ahead contract was indicated between 49.2 and 49.3 euros, having closed at 49 euros.

* European December 2019-expiry CO2 emissions permits were up 1.5 percent at 19.52 euros a tonne.

* Hard coal for northern European delivery in 2020 was 2 percent higher at $78.5 a tonne.

* In Eastern Europe, Czech day-ahead baseload was untraded after Tuesday had closed at 40.5 euros. Year-ahead power traded up 1.2 percent at 48.25 euros.

* In the German utility sector, RWE won EU antitrust approval to buy the renewables and nuclear businesses of E.ON and of Innogy’s renewable operations. The German cartel office also approved the acquisitions, that could be completed in the second half of 2019. But the office is still examining the planned acquisition of Innogy stakes by E.ON . ($1 = 0.8809 euros) (Reporting by Vera Eckert, editing by Emelia Sithole-Matarise)

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