April 13, 2016 / 11:57 AM / 4 years ago

EUROPE POWER-Spot falls on weak demand, higher wind and solar output

* French power demand declines on warm weather

* Forward curve slides with oil and other fuels

PARIS, April 13 (Reuters) - European spot electricity prices for next-day delivery fell on Wednesday due to weak demand and increased supply from renewable power sources, while year-ahead prices traced oil lower.

Power consumption in France on Thursday is expected to fall by 1 gigawatts (GW) compared with the previous day due to warm weather, Thomson Reuters data showed. German demand for the same period is seen down by 310 megawatts (MW).

The benchmark German baseload power price for Thursday delivery fell 6.09 percent or 1.75 euro to 27.00 euros ($30.52) per megawatt-hour (MWh), while the equivalent French contract lost 0.1 euro or 0.36 percent, to 27.75 euros/MWh.

German wind power production is expected to increase by nearly 1 GW to 3.1 GW day-on-day. Solar power is also seen slightly up. French renewables output for the period is also expected to increase, contributing to the pressure on prices.

In conventional power supply, French nuclear power availability is seen at 71 percent of capacity.

Along the forward power curve, prices fell on Wednesday as oil prices gave up their previous day gains.

Oil futures traded lower on concerns that a producer meeting set for Sunday in Doha to discuss freezing output will do little to trim oversupply as well as a strengthening dollar.

German baseload power for next year, Cal ‘17, fell 0.36 percent to 22.65 euros a megawatt-hour (MWh). The equivalent French contract was at 27.30 euros/MWh, 0.1 euro or 0.36 percent down.

In the Czech market, prices also fell. The day-ahead power price, was down 6.78 percent to 27.50 euros, while the year-ahead position fell 0.22 percent 22.95 euros.

European coal prices for 2017 fell $0.05 or 0.12 percent to $41.70 a tonne. Front-year EU carbon allowances fell 0.08 euro or 1.43 percent to 5.51 euros a tonne. ($1 = 0.8847 euros) (Reporting by Bate Felix; Editing by Alexander Smith)

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