January 31, 2018 / 8:02 AM / 5 months ago

RPT-European spot power prices lifted by cold weather and low wind supply

PARIS, Jan 31 (Reuters) - European spot power prices for day-ahead delivery rose in the wholesale market early on Wednesday, lifted by forecasts showing a decline in wind power generation and a sharp increase in consumption due to cold weather.

The French baseload day-ahead power price gained over 9 percent to 38.75 euros ($47.95) a megawatt-hour (MWh).

The benchmark German spot added 2.66 percent to 32.85 euros/MWh.

French electricity demand for Thursday is expected to rise by 2.6 gigawatts (GW) to 69.8 GW as the average temperature falls by 2.4 degrees Celsius, boosting demand for heating.

Electricity generation from French wind turbines will fall by over 2 GW to 5.4 GW on Thursday, according to Thomson Reuters data. ($1 = 0.8029 euros) (Reporting by Bate Felix; Editing by Sudip Kar-Gupta)

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