April 12, 2017 / 8:36 AM / 2 years ago

EUROPE POWER-Prompt prices down as wind holds up, demand eases

FRANKFURT, April 12 (Reuters) - European prompt power prices on Wednesday fell as wind power output in Germany held up and consumption began to ease in the run-up to the Easter holiday period.

* Traders said the two factors offset the impact of strikes in France and falling temperatures.

* French baseload power for Thursday delivery was down 3.4 percent on the day to 35.75 euros ($37.96) per megawatt-hour (MWh).

* The German day-ahead contract was down 1.4 percent to 29.1 euros/MWh.

* French state-controlled utility EDF said it had received notice of another strike by workers on Wednesday. Ongoing rolling protests since January in a dispute over wages and benefits have taken small volumes out of the market, but without much impact on prices.

* French nuclear power availability is currently at 72.6 percent of capacity.

* German production from wind turbines is likely to stay above 20 gigawatts (GW) on Thursday compared with Wednesday levels recorded at 20.4 GW, a little less than half of total capacity, Thomson Reuters data showed.

* Power demand will fall by 1.4 GW in both countries together to 113.4 GW on Thursday and ease sharply between April 14 and 17, when most businesses close.

* Along the forward curve, the German Cal ‘18 benchmark price gained 0.7 percent to 29.8 euros/MWh, taking support from firmer fuels and carbon prices.

* The equivalent French contract did not trade after closing at 34.90 euros.

* Coal cif Europe 2018 gained 1.8 percent to $65.70 per tonne.

* EU carbon emissions rights prices rose 0.4 percent to 4.89 euros per tonne.

* In eastern Europe, the Czech power contract for Thursday did not trade after a 28.75 euros close. The year-ahead position mirrored its more liquid German counterpart, clocking up a 1.4 percent gain to 29.8 euros/MWh. ($1 = 0.9419 euros) (Reporting by Vera Eckert, editing by Jason Neely)

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