September 7, 2018 / 1:13 PM / in 8 months

EUROPE POWER-Year-ahead prices climb to record highs with carbon

(Adds updated prices, fresh highs)

PARIS, Sept 7 (Reuters) - European power contracts for year-ahead delivery set record highs on Friday in step with a rally in coal, carbon emissions and strength across energy markets.

* German power for 2019 delivery, the European benchmark, rose over 3 percent to hit a record year-ahead high of 54.70 euros ($63.34) per megawatt hour (MWh).

* Germany’s 2020 price also set a contract high, trading up nearly 3 percent at 49.50 euros/MWh.

* The French Cal’19 delivery contract gained 3.5 percent, hitting a contract record of 60.30 euros/MWh. The 2020 contract reached a new high of 53 euros.

* European December 2018 expiry carbon allowances, which operators buy to cover their carbon emissions when needed, were up over 8 percent, hitting a ten-year high of at 23.35 euros a tonne.

* Carbon prices have risen sharply in recent weeks on EU reforms that aim to tighten supply from next year.

* European delivery AP12 coal for 2019, another big cost factor for power generators, was up 0.6 percent at $95.45 a tonne but held below Thursday’s contract high of $96.25.

* In the day-ahead power market, prices were little changed in Germany, reflecting minor expected variations in supply and demand.

* The German baseload contract for Monday delivery last traded at 62.50 euros/MWh, level with the price paid on Thursday for Friday delivery.

* The equivalent French day-ahead contract was untraded.

* The latest forecast showed German wind power production is expected to rise by 1.7 GW on Monday to 9.1 gigawatts (GW), compared with 7.3 GW expected on Friday.

* In France, nuclear power availability stood at 75.5 percent of capacity on Friday after climbing this week, according to Reuters estimates.

* Availability could vary in the coming days, with several reactors due to come back online or go offline for maintenance.

* French utility EDF said a strike had led to an unplanned outage and reduced power production at its Cruas 2 nuclear reactor by 400 megawatts (MW) as of 0700 GMT on Friday.

* In eastern Europe, the Czech year-ahead contract also struck a contract high, adding 2 percent to 55.25 euros.($1 = 0.8589 euros) (Reporting by Bate Felix and Gus Trompiz; Editing by David Goodman and Mark Potter)

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