October 30, 2017 / 12:54 PM / 3 years ago

EUROPE POWER-Fall in wind power generation lifts German spot

PARIS, Oct 30 (Reuters) - European spot electricity prices for day-ahead delivery diverged on Monday as forecasts for a sharp decline in wind and solar power generation provided support in Germany despite electricity consumption seen falling due to holidays.

* Electricity production from German wind turbines is expected to tumble further on Tuesday by almost 6 gigawatts (GW) to 10 GW from nearly 40 GW on Saturday, which pushed prices into negative territory.

* Solar power generation will drop by over 1 GW to 2.2 GW, according to Thomson Reuters data.

* The German baseload spot power price for Tuesday delivery gained 2.2 euros to 36.5 euros ($42.46) a megawatt hour (MWh), compared with the price paid on Friday for Monday delivery.

* German electricity demand is expected to fall by 4.5 GW on Tuesday to 59.6 GW as businesses close for holidays. Germany celebrates a Reformation anniversary on Tuesday followed by the All Saints day on Wednesday.

* The French prompt power price for Tuesday delivery fell 1.5 euros to 60 euros/MWh compared with the price paid for Monday delivery.

* In the week ahead contracts, prices rose sharply due to a further low wind forecast in Germany and delays in the restart of several nuclear reactors in France, a trader said.

* The German Week 1 contract soared over 33 percent to 43.25 euros/MWh. The equivalent French contract added 20 percent to 66 euros/MWh.

* French nuclear power is seen at 67.44 percent of capacity, same level as Friday following the delay in the restart of several reactors with a total capacity of over 4 GW.

* French electricity demand on Tuesday will rise by 4.3 GW to nearly 59 GW due to cold weather. Average temperature will fall by 2.4 degrees Celsius, the data showed.

* Along the forward power curve, the German Cal ‘18 baseload power rose 0.27 percent to 36.80 euros/MWh, tracking gains in carbon emissions and fuels.

* The equivalent French Cal ‘18 power contract was untraded at its 42.15 euros/MWh close.

* Coal cif Europe for 2018 added 1.24 percent to $85.80 a tonne.

* December-expiry EU carbon permits rose 1.26 percent to 7.26 euros a tonne.

* In eastern Europe, the Czech Tuesday power contract was 1.7 euros up at 37.45 euros/MWh. The year-ahead position was untraded. ($1 = 0.8596 euros) (Reporting by Bate Felix, editing by Louise Heavens)

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