May 15, 2019 / 10:00 AM / a year ago

EUROPE POWER-Spot narrowly mixed on weather, nuclear factors

FRANKFURT, May 15 (Reuters) - European prompt power prices on Wednesday were narrowly mixed, with Germany’s down on more wind power supply and those in France unchanged as nuclear supply increased to meet seasonally high demand.

* Temperatures are low for the time of year especially in France but are seen going up from Saturday, making next week’s outlook bearish.

* French over-the-counter baseload delivery on Thursday was unchanged from the previous close at 41.50 euros ($46.50) a megawatt hour (MWh).

* German baseload power for the day-ahead was 1% down at 41.75 euros/MWh.

* French electricity demand on Thursday is seen at 50.3 gigawatts, down 100 megawatts day-on-day, but still firm, Refinitiv Eikon data showed.

* German demand is due to go up by 300 MW to 63.5 GW. Local temperatures are due to edge only gradually higher and also stay below normal this week.

* In the medium term, temperatures in the region on the whole should go up by between 3-5 degrees next week.

* On the supply side, German wind power generation was forecast to rise by 4 GW to 13 GW day-on-day.

* Available French nuclear capacity was up two percentage points at 70.3% of installed capacity compared with the previous day.

* Along the forward curve, Germany’s Cal’20 year-ahead baseload , the European benchmark, was at 48.8 euros/MWh, up 0.1%.

* The French equivalent for 2020 delivery was up 0.7% at 51.9 euros/MWh.

* European December 2019 expiry CO2 emissions permits were 0.2% up at 25.94 euros.

* Hard coal for northern European delivery in 2020 shed 0.2% to $70.25 a tonne.

* In Eastern Europe, Czech baseload for the day-ahead gained 1% to 45 euros. Year-ahead baseload did not trade after a close at 50.95 euros.

* German utility RWE reported higher earnings in the first quarter due to a strong performance of its trading floor.

* the company detailed hedge rates for power and carbon, and said that gas-fired plants had been busier due to favourable gas prices and higher CO2 which relatively discouraged coal burning. ($1 = 0.8925 euros) (Reporting by Vera Eckert, editing by Elaine Hardcastle)

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