September 26, 2012 / 4:57 PM / 5 years ago

Europe Power-Spot falls on ample renewables, nuclear

* Demand in France/Germany seen slightly down on Thursday
    * Wind power availability to rise
    * Germany's 2013 contract unchanged despite oil fall

    PARIS, Sept 26 (Reuters) - European spot electricity prices
eased on Tuesday, pushed lower by ample renewables, improved
nuclear power supplies, and lower consumption due to a drop in
cloud coverage in France and Germany.
    France's day ahead contract for Thursday delivery fell by
1.75 euros to 47.50 euros per megawatt hour (MWh) in the
over the counter market while the German corresponding contract
 dropped by 2.95 euros to 46.75 euros.
    "Wind power production for tomorrow is expected up compared
to today's levels," a Point Carbon analyst said. "Consumption is
expected slightly down in both Germany and France tomorrow, as
cloud cover is expected to drop somewhat," the analyst added.
    Switzerland's water reservoir filling levels eased by 0.3
percentage points to 83.3 percent of the total capacity in the
week to Sept. 24, data from state statistics office BFE showed
on Wednesday. 
    Contracts for 2013 delivery rose a touch despite a fall in
oil prices to below $109 a barrel as the euro zone crisis
deepened with violent clashes and a general strike in Greece and
more bad economic news for Spain.
    The French contract for baseload rose by 35 cents
to 50.20 euros/MWh while the German contract only edged 2 cents
higher to 47.65 euros.
    The European Commission is investigating whether it can pass
law to permanently tackle the oversupply of carbon permits in
its Emissions Trading Scheme without amending the EU directive
that governs the cap-and-trade system, an EU official said
Wednesday. 

 (Reporting by Muriel Boselli; Editing by William Hardy)

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