May 16, 2019 / 10:47 AM / 3 days ago

EUROPE POWER-Forecast fall in demand weighs on prompt power prices

PARIS, May 16 (Reuters) - European spot electricity prices for day-ahead delivery fell on Thursday on the back of forecasts showing lower consumption ahead of the weekend amid mild weather and increased nuclear generation in France, while output will fall in the wind sector.

* French over-the-counter baseload for Friday delivery fell 4.2% to 39.75 euros ($44.56) a megawatt hour (MWh).

* German baseload contract for the next-day delivery was 3.5% down at 40.25 euros/MWh.

* Power consumption in France is expected to fall by over 1 gigawatt (GW) on Friday to 49.4 GW, Refinitiv Eikon data showed.

* The average temperature in France will rise by 2.8 degrees Celsius.

* German electricity demand is forecast to drop by 1.8 GW to 61.7 GW, the data showed. Temperatures are expected to rise by 3.6 degrees Celsius on average across Germany on Friday.

* A trader said average temperatures would rise further and reach normal seasonal levels by mid next week after hovering below seasonal levels the past week.

* On the supply side, German wind power generation will drop by 4.6 GW day-on-day on Friday to 7.6 GW. Solar generation on the other hand will rise by 3.6 GW to 7.3 GW.

* Wind power supply in France is expected to decline by 740 megawatts (MW) to 1.6 GW, while solar generation will drop by 820 MW to 920 MW.

* Available French nuclear capacity rose 4.25 percentage points at 75.55% of installed capacity compared with the previous day.

* French nuclear regulator ASN said on Thursday that utility EDF had a significant amount of work to do before it starts loading fuel into its Flamanville 3 EPR nuclear reactor that is under construction in northern France.

* Along the forward curve, Germany’s Cal’20 year-ahead baseload , the European benchmark, dipped 0.1% to 49 euros/MWh.

* The trader said there was a general weakness in the market coming from weaker gas and coal prices.

* The French equivalent for 2020 delivery was up 1% at 52.35 euros/MWh.

* European December 2019 expiry CO2 emissions permits were down 1% at 25.71 euros.

* Hard coal for northern European delivery in 2020 lost 1.8% to $70 a tonne.

* In Eastern Europe, Czech baseload for the day-ahead dropped 6.8% to 41.50 euros/MWh. Year-ahead baseload did not trade. ($1 = 0.8920 euros) (Reporting by Bate Felix; Editing by Sudip Kar-Gupta)

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