March 4, 2019 / 11:04 AM / 22 days ago

EUROPE POWER-Spot power prices gain on fall in wind generation

PARIS, March 4 (Reuters) - European electricity prices for day-ahead delivery registered gains in the wholesale market on Monday buoyed by a forecast for a drop in power generation from wind sources, while demand was also expected to climb due to cold weather.

* The German baseload prompt power for Tuesday delivery gained 3.2 euros to 26.50 euros ($30.05) a megawatt hour (MWh) compared with the price paid on Friday for Monday delivery.

* The equivalent French over-the-counter baseload contract traded at 37.25 euros/MWh, adding 5.75 euros compared with the price paid on Friday for Monday delivery.

* Electricity production from German wind turbines is forecast to fall by 7.4 gigawatts (GW) on Tuesday to 32.1 GW, according to Refinitiv Eikon data.

* In France, wind power generation will fall by 4.3 GW to 6.6 GW, the data showed.

* French nuclear reactor availability was steady at 84 percent of the total capacity.

* On the demand side, German electricity consumption will rise by 3.5 GW day-on-day on Tuesday to 67.7 GW. The average temperature is expected to fall in Germany by nearly 3 degrees Celsius.

* Electricity consumption in France is expected to climb by 3.2 GW on Tuesday to 61 GW as cold and windy weather increases demand for heating. The average temperature in France will fall by 1 degree Celsius on Tuesday.

* Week-ahead contracts also added gains on an expected increase in demand due to lower renewables availability, a trader said.

* The French Week 1 delivery price gained 9.4 percent to 41.05 euros/MWh. The German position rose nearly 6 percent to 35.75 euros/MWh.

* Along the year-ahead curve, Germany’s Cal ‘20 baseload power , the European benchmark, added 1 percent to 48.60 euros/MWh, tracking gains in carbon and coal prices.

* The equivalent French year-ahead contract gained 0.4 percent to 52 euros/MWh.

* European December 2019-expiry CO2 emissions permits were 0.8 percent higher at 22.47 euros a tonne.

* Hard coal for northern European delivery in 2020 gained nearly 1 percent to $80.75 a tonne. ($1 = 0.8818 euros) (Reporting by Bate Felix; Editing by Sudip Kar-Gupta )

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