June 19, 2017 / 10:21 AM / a year ago

EUROPE POWER-Spot eases as wind, nuclear supply offsets hot weather demand

PARIS, June 19 (Reuters) - European day-ahead electricity prices eased on Monday, curbed by an expected increase in wind power production in Germany and nuclear power availability in France that countered extra demand linked to hot weather.

* The German baseload electricity contract for Tuesday traded at 36.45 euros ($40.79) per megawatt-hour (MWh), down 3.4 percent compared with 37.75 euros quoted at the previous close for Monday delivery.

* The equivalent spot French contract for Tuesday was quoted at 38.75 euros/MWh, down 5.5 percent versus the previous closing price for Monday delivery.

* Electricity production from German wind turbines is expected to rise on Tuesday by 4.6 gigawatts (GW) to about 5.7 GW, according to Thomson Reuters data.

* Available German solar supply was projected to ease by 700 MW on the day but still reach a relatively high 8.3 GW.

* In France, available French nuclear capacity is expected to rise from 64.75 percent currently, with two reactors representing 2.2 GW of capacity expected to restart in the day ahead.

* On the demand side, German consumption is forecast to rise by nearly 4 GW to 69 GW. Demand in France is seen rising by about 2 GW on Monday to 49 GW.

* Average temperatures will rise further on Tuesday in Germany and France, increasing demand for cooling and contributing to higher forecast consumption in both countries.

* Along the forward curve, the German Cal ‘18 benchmark rose 1.0 percent to 30.70 euros/MWh, tracking higher coal prices.

* The equivalent French contract was 0.3 percent higher at 36.65 euros/MWh.

* Coal cif North Europe climbed 1.5 percent to $69.00 per tonne, while the December expiry EU carbon contract was up 0.4 percent at 4.90 euros a tonne.

* In Eastern Europe, the Czech day-ahead contract was quoted at 38.60 euros/MWh, down from the 39.50 euros for Monday delivery quoted at Friday’s close. The year-ahead contract was up 0.8 percent at 31.15 euros/MWh. ($1 = 0.8936 euros)

Reporting by Gus Trompiz; Editing by Edmund Blair

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