November 14, 2017 / 1:02 PM / in 10 days

EUROPE POWER-Day-ahead prices up on wind decline, rest of market sold off

FRANKFURT, Nov 14 (Reuters) - European prompt power prices for the day ahead firmed strongly on Tuesday on forecasts of lower wind speeds in Germany while nearly all forward positions were down in a sell-off after recent gains.

* French Wednesday delivery baseload was at 83.5 euros a megawatt hour (MWh), up 1.8 percent, while German Wednesday delivery , at 65.25 euros, was 50.9 percent higher day-on-day.

* The high absolute price levels and France’s premium reflect a tight nuclear supply situation in that country and the onset of cold winter weather in the region.

* Germany will likely see its wind turbine output more than halve to Wednesday, when volumes might stand at 3.1 gigawatts (GW), compared with the 8.2 GW expected to come in on Tuesday, according to Thomson Reuters figures.

* German solar power volumes will also be negligible at below 2 GW on Wednesday.

* Demand will only ease slightly in the same period, taking 300 MW out of consumption in both countries put together. However, average demand next week will plummet by 3.1 GW in Germany and by 0.3 GW in France compared with Tuesday.

* Power curve prices decreased along with weaker fuels and carbon prices.

* Germany’s year-ahead power contract, the European benchmark, lost 0.7 percent to 36.6, having posted a 45-month high last week of 37.53 euros.

* The equivalent French contract shed 0.2 percent to 41.85 euros.

* Cif Europe coal for 2018 was 0.6 percent down at $85.8 a tonne.

* December-expiry EU carbon permit prices were 1.2 percent off at 7.44 euros a tonne.

* In eastern Europe, Czech day-ahead power which tracks German prices, jumped 46.9 percent to 64.4 euros. Czech Year-ahead power shed 1.2 percent to 37.65 euros.

* German utility RWE said during its nine-months earnings presentations that it sold the bulk of its 2018, 2019 and 2020 power generation from nuclear and brown coal-fired plants in Germany, also detailing prices.

* Chief finance officer Markus Krebber told reporters that an idled gas-to-power block of 380 MW at Weisweiler and a gas unit of 427 MW in Werne were taken into operations during last week’s weather-related slowdown in wind and solar power generation.

* The move to add to supply was helped by beneficial spot gas generation margins and the plants were now ready to produce all winter if needed, he added. (Reporting by Vera Eckert; Editing by Jon Boyle)

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