April 18, 2018 / 11:53 AM / a month ago

EUROPE POWER-Spot power prices slip on warm weather outlook

PARIS, April 18 (Reuters) - European spot electricity prices for day-ahead delivery fell on Wednesday as forecasts showed consumption slipping due to warm weather, while near-term contracts dipped on increased wind and hydro power generation in the week ahead.

* The French baseload spot power price for Thursday delivery fell 4.5 percent to 39 euros ($48.21) a megawatt-hour (MWh).

* The German spot contract for Thursday slipped 4.2 percent, converging at 39 euros/MWh with the French contract.

* French power consumption will fall by 2.3 gigawatts (GW) on Thursday to 48 GW, according to Thomson Reuters data.

* Average temperature in France is expected to rise by 1.4 degrees Celsius, the data showed.

* German demand is seen down 400 megawatts on Thursday to 60.9 GW, while average temperature will rise by about 2 degrees Celsius, another forecast showed.

* French nuclear power generation availability remains at 72.5 percent of capacity after utility EDF delayed the planned restart of three reactors by several days. Availability could improve if its Cruas 1 and Cattenom 1 reactors restart as planned later on Wednesday.

* Week-ahead electricity contracts fell on a forecast increase in wind for most of next week across France and Germany, a trader said.

* “Expectations are that electricity demand will be relatively low and we should see significant snow melt and increased hydro generation,” the trader added.

* The German Week 1 contract was down 4.8 percent at 32.25 euros/MWh. The French equivalent dipped 1.7 percent to 33.40 euros/MWh.

* On the year-ahead curve, the European benchmark, Germany’s Cal’19, was up 0.05 percent at 37.55 euros/MWh.

* The French contract for 2019 was untraded at 42.50 euros/MWh.

* European carbon emissions rights for December 2018 expiry edged down 0.5 percent to 13.63 euros a tonne.

* Cif Europe coal for 2019 added 0.5 percent to $80.25 a tonne.

* In eastern Europe, the Czech day-ahead power contract, which mirrors the German prompt, was down 4 percent at 38.75 euros/MWh. The year-ahead position slipped 0.1 percent to 38.65 euros/MWh.. ($1 = 0.8089 euros) (Reporting by Bate Felix; Editing by Mark Potter)

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