June 28, 2018 / 10:00 AM / 3 months ago

EUROPE POWER-Spot down on lower demand, France reports reactors offline

FRANKFURT, June 28 (Reuters) - European spot wholesale power prices fell on Thursday due to weak pre-weekend demand, although those in France were supported by reports of some reactor capacity losses.

* German OTC baseload for Friday dropped by 1.7 percent to 44.5 euros ($51.42)/MWh, while the equivalent French contract was off 0.5 percent at 46.5 euros.

* French utility EDF reported the Penly 2 reactor would add one day to its current outage. Bugey 4 was switched off overnight for one day, and Chooz 2 will be offline for four days up to Sunday, both unplanned, it said.

* Thomson Reuters data showed German wind power output was likely to nudge up by 500 MW to stand at 7.5 gigawatts (GW) on Friday, with Monday predicted at 5 GW.

* Power demand in Germany is forecast to drop by 1.2 GW to 60.8 GW on Friday and to a daily average of 58.1 GW next week.

* French demand, meanwhile, should come in unchanged at 47.2 GW on Friday and shed 700 MW to a daily average of 46.5 GW next week.

* Prices on the power forwards curve firmed, helped by stronger oil and higher carbon prices, following on from gains posted on Wednesday afternoon along with the related fuels.

* Germany’s Cal’19 baseload power went up by 0.6 percent to 42.9 euros, a one month-high, while the contract’s French equivalent gained 0.8 percent to 47.85 euros.

* BayernLB bank said in a research note that the 43 euros-level for 2019 German delivery, seen for the European benchmark in May, was moving into view again.

* European carbon permits prices for December 2018 expiry were up 0.5 percent at 15.33 euros a tonne.

* The price of European delivery AP12 coal for annual imports in 2019 had closed at $87.95 a tonne.

* It has risen 4.3 percent over the past week, driven by Chinese demand in the global market which took the European contract above $90 earlier this month.

* In eastern Europe, Czech day-ahead and year-ahead power contracts did not trade after day-ahead closed at 46.75 euros and 2019 delivery at 43.8 euros in the previous session . ($1 = 0.8654 euros) (Reporting by Vera Eckert; Editing by Mark Potter)

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