May 21, 2019 / 10:02 AM / a month ago

EUROPE POWER-Wind and nuclear output weighs on spot power prices

PARIS, May 21 (Reuters) - European spot power prices for day-ahead delivery fell on Tuesday on the back of forecasts showing a surge in German wind electricity generation and French nuclear supply, while demand will ebb due to mild weather.

* German over-the-counter spot electricity contract for Wednesday delivery slipped 5.3% to 40 euros ($44.97) a megawatt hour (MWh).

* French Wednesday baseload contract lost 2.4% to 40 euros/MWh.

* Electricity generation from German wind turbines is expected to rise on Wednesday by 2.8 gigawatts (GW) to over 17 GW, according to Refinitiv Eikon data.

* German solar power output will increase by 560 megawatts (MW) to 4.3 GW day-on-day on Wednesday.

* In France, nuclear power availability rose by 2 percentage points to 74.5 percent of available capacity compared with the previous day. EDF’s 900 MW Tricastin 2 nuclear reactor is scheduled to restart on Wednesday.

* Wind power supply in France will fall by 1.1 GW to 860 MW, while solar generation will increase by 130 MW to 1.7 GW, the data showed.

* On the demand side, French consumption will drop by 650 MW to 49.3 GW on Wednesday. German demand is expected to dip slightly by 10 MW to 62.5 GW compared with the previous day.

* Average temperature will fall by 0.8 degrees Celsius in Germany on Wednesday, but will rise by 0.6 degrees Celsius in France.

* The weather is expected to be mild on Wednesday and Thursday before turning cooler later in the week and early next week, forecasts by French grid operator RTE showed.

* Further in the power curve, Germany’s Cal’20 year-ahead baseload , the European benchmark, dipped 0.3% to 47.80 euros/MWh, tracking carbon emissions and gas prices, a trader said.

* The French equivalent for 2020 delivery was down 0.3% to 51.25 euros/MWh.

* European December 2019 expiry CO2 emissions permits fell 0.2% to 25.13 euros a tonne.

* Hard coal for northern European delivery in 2020 was untraded at its $68.50 a tonne close on Monday.

* In Eastern Europe, Czech baseload for Wednesday delivery was untraded. The year-ahead baseload traded at 50.25 euros/MWh, down 1.7%. ($1 = 0.8973 euros) (Reporting by Bate Felix Editing by Sudip Kar-Gupta)

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