May 10, 2019 / 9:04 AM / a year ago

EUROPE POWER-Prompt prices dip on renewables supply and lower demand

FRANKFURT, May 10 (Reuters) - European spot power prices for Monday were down in Friday wholesale trading on forecasts for lower consumption and more wind and solar power supply in Germany.

* German over-the-counter baseload power for Monday delivery was 2% down from Friday delivery at 42 euros ($47.15) per megawatt hour (MWh).

* The equivalent French contract did not trade after Friday had closed at 45 euros and Sunday delivery fell to 26 euros.

* Electricity generation from German wind turbines is expected to rise to 13.6 gigawatts (GW) on Monday from 10.1 GW on Friday, according to Refinitiv Eikon data.

* German daily solar power supply will increase to between 8 GW and 9 GW on Monday from 7 GW on Friday, the data showed.

* Power demand in Germany will ease by 100 MW from the Friday level to reach 62 GW on Monday and fall by 2 GW in France to 51.3 GW.

* Temperatures will be unseasonably cold but not low enough to prompt additional heating requirements.

* Available French nuclear capacity dropped to 70.9 percent of installed total capacity on Friday, down 1.4 percentage points.

* In forward prices, Germany’s Cal’20 baseload, the European benchmark, edged 0.1% higher to 49.25 euros/MWh.

* The French equivalent for 2020 delivery failed to trade in the morning after a close at 53 euros.

* European December 2019 expiry CO2 emissions permits were 0.1% up at 26.48 euros a tonne.

* Hard coal for northern European delivery in 2020 was indicated at $70.30-$71 a tonne, having settled at $70.80.

* BayernLB wrote in a market report that it expects power prices to be supported by firm gas and carbon markets, while coal is likely to weaken on sluggish Chinese demand growth.

* It said the German Cal ‘20 faced overhead resistance at 51 euros, a level last seen two weeks ago.

* In Eastern Europe, Czech baseload power for Monday did not change hands after Friday delivery closed at 44.50 euros.

* Czech year-ahead baseload also remained untraded after a 52.75 euros close. ($1 = 0.8909 euros) (Reporting by Vera Eckert Editing by David Goodman)

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