March 15, 2019 / 10:31 AM / 2 months ago

EUROPE POWER-Monday prices boosted by lower wind supply, colder weather

FRANKFURT, March 15 (Reuters) - European wholesale electricity prices for early next week rose on Friday, reflecting an anticipated drop in German wind power supply on Monday and an increase in demand as temperatures fall.

* Germany’s over-the-counter baseload contract for Monday delivery was up 16.7 percent from the price paid for Friday at 32.1 euros ($36.36) a megawatt hour (MWh) by the late morning.

* The French baseload price for Monday delivery rose 19 percent to 36 euros/MWh.

* Electricity output from German wind turbines is forecast to fall to 27.7 GW on Monday, compared with an expectation for 35.5 GW on Friday, Refinitiv Eikon data showed.

* Nuclear power availability in France has risen by 3.5 percentage points to 87.5 percent of total capacity.

* On the demand side, German consumption will likely ease by 700 MW to Monday to 66.9 GW compared with Friday’s level. France’s usage will increase by 3.7 GW to 62.7 GW.

* The average temperature will fall by 4.8 degrees Celsius in weather-sensitive France to below seasonal norms, and by 3.3 degrees in Germany in the same period.

* French utility EDF has received notice of a 24-hour strike at its power production sites in France starting at 2000 GMT on Monday.

* Along the distant power curve, the German Cal ‘20 year-ahead baseload was steady at 47.2 euros euros/MWh by late morning, underpinned by gains in coal, carbon emissions and oil.

* The equivalent French year-ahead power contract was untraded after a close at 50.35 euros.

* European December 2019-expiry CO2 emissions permits gained 0.6 percent to 22.87 euros a tonne.

* Hard coal for northern European delivery in 2020 rose 0.3 percent from the close to $75.1 a tonne close.

* Coal has been pulled lower by downbeat Chinese economic figures, BayernLB said in a weekly research note. However, short-term scepticism should be overridden by forecasts of sharp falls in Indonesian and U.S. output, it said.

* In Eastern Europe, Czech Monday baseload contracts did not trade after Friday had closed at 29.75 euros/MWh. Year-ahead power also did not change hands, having closed at 49.35 euros/MWh. ($1 = 0.8829 euros) (Reporting by Vera Eckert; Editing by Jan Harvey)

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