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EUROPE POWER-Spot prices dip on forecast increase in wind power supply
August 29, 2017 / 11:48 AM / 24 days ago

EUROPE POWER-Spot prices dip on forecast increase in wind power supply

PARIS, Aug 29 (Reuters) - European electricity prices for day-ahead delivery fell on Tuesday on the back of a forecast increase in power production from renewable wind sources, despite firm demand.

* The benchmark German baseload power contract for delivery on Wednesday traded down 1.62 percent at 36.40 euros ($43.85) a megawatt-hour (MWh).

* The French day-ahead contract fell 1.20 percent to 41 euros/MWh.

* Electricity production from German wind turbines is expected to double day-on-day, rising by 3.1 gigawatts (GW) on Wednesday to 6.3 GW, according to Thomson Reuters data.

* Although German solar production will fall slightly by 890 megawatts (MW), output is seen firm at over 7 GW.

* In France, wind power generation will rise by 1.7 GW to 2.7 GW, the data showed.

* Available French nuclear power, which accounts for over 75 percent of its electricity needs, is at 70.12 percent of capacity after the restart of EDF’s 900 MW Tricastin 1 reactor was postponed to Sept. 4.

* EDF said early on Tuesday that it had cut production at its St Alban 2 reactor in the south of France due to a heatwave, however, production at the 1,300 MW reactor was back to normal by 1100 GMT.

* Meteo France has recorded scorching temperatures in the central part of France in the past two days, which has boosted electricity demand for cooling.

* Average temperature is expected to ease in France on Wednesday by 2.8 degrees Celsius, according to Reuters data.

* On Wednesday, French electricity demand will rise by 220 MW to 49 GW. French grid operator RTE’s forecast showed peak demand remaining strong for the rest of the week.

* Prices on the power forward gave up earlier gains, falling alongside carbon and oil prices.

* The German Cal ‘18 baseload power contract for 2018 delivery dipped 0.89 percent to 33.45 euros/MWh after touching a 32-month high of 33.85 euros/MWh in early trade.

* The equivalent French contract fell 0.37 percent to 40.60 euros/MWh.

* December 2017 expiry EU carbon allowances, which coal-fired power generators must hold to cover their emissions, were down nearly 1 percent at 6.04 euros a tonne.

* In eastern Europe, Czech spot power for Wednesday fell 1 percent to 36.60 euros/MWh. Czech year-ahead power dipped 0.85 percent to 33.96 euros/MWh. ($1 = 0.8302 euros) (Reporting by Bate Felix; editing by Mark Heinrich)

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