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German 2017 power at 20-month high in bullish environment
October 18, 2016 / 2:37 PM / a year ago

German 2017 power at 20-month high in bullish environment

FRANKFURT, Oct 18 (Reuters) - Germany’s year-ahead power delivery contract hit a 20-month high on Tuesday as talk of additional French nuclear reactor closures sparked fears that supply could tighten in Europe’s biggest power markets before cold winter weather.

The baseload German Cal ‘17 position was last at 32.45 euros ($35.63) a megawatt hour (MWh), up 90 cents from its Monday close and the contract’s highest level since mid-February 2015.

France and Germany are linked by big interconnectors.

Traders said the two normally plug each others’ supply gaps.

But with nuclear-reliant France at just two thirds of its reactor capacity, and Germany having whittled down its nuclear capacity to 11.3 gigawatts (GW) after the Fukushima disaster in Japan in 2011, the possibility of prolonged outages causes concern, they said. ($1 = 0.9107 euros) (Reporting by Vera Eckert, editing by Adrian Croft)

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