CEE POWER-Czech day-ahead falls slightly from 2-month high

Tue Feb 22, 2011 3:50pm GMT
 

* Czech day-ahead falls, remains strong

* Czech Cal '12 highest since early January

PRAGUE, Feb 22 (Reuters) - Czech day-ahead power prices fell slightly on Tuesday but remained near a two-month high hit a day earlier as limited export capacity from neighbouring Poland and cold temperatures helped support prices, traders said.

Electricity for Wednesday delivery fell to around 58.35 euros per megawatt-hour from 59.10 euros per megawatt-hour in over-the-counter trade, a level above Germany as some buyers in the Czech Republic were likely short, a trader said.

Day-ahead power traded at 58.30 euros on the Prague-based Power Exchange Central Europe as wind generation was forecast to pick up but remain low.

"The export capacity from Poland was limited, which supported the Czech market," the trader said. "It is still very cold and some companies were probably short as well."

Prices were strong along the curve with the front month up nearly 1 percent to 49.10 euros as weather forecasters predicted cold temperatures would persist into March.

Baseload electricity for 2012 posted strong gains for the second day in a row, rising about 1.5 percent to 52 euros as fuel prices also went higher. The contract is trading at the highest level since early January.   Continued...

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