July 17, 2019 / 11:06 AM / in 7 months

EUROPE POWER-Slack demand and increased wind output weigh on spot prices

PARIS, July 17 (Reuters) - European spot electricity prices for day-ahead delivery fell on Wednesday on the back of forecasts showing a rise in wind power generation amid weak consumption.

* Germany’s over-the-counter baseload power for the day-ahead lost 4.7% to 44.75 euros ($50.18) megawatt hour (MWh).

* The equivalent French baseload contract for Thursday delivery fell 6.5% to 42.75 euros/MWh.

* German wind electricity generation is expected to rise by 830 megawatts (MW) to over 3 GW on Thursday, according to Refinitiv Eikon data.

* German solar power supply will slip by 500 MW to 8 GW during the same period.

* In France, wind power supply will increase by 1.5 GW day-on-day to 2.4 GW, the data showed, while solar generation will decline by 240 MW to 1.6 GW.

* On the demand side, German power consumption will remain flat on Thursday at around 61.5 GW. Average temperature in Germany will rise by 1.2 degrees Celsius.

* Electricity consumption will fall in France by 520 MW on Thursday to 48 GW, the data showed.

* French nuclear reactor availability was steady at 69% of maximum capacity with two reactors scheduled to restart by Thursday.

* Further in the front end of the curve, week-ahead prices added slight gains on the back of forecasts for a heatwave next week.

* French power grid operator RTE’s forecast showed temperatures at between 3 to 6 degrees Celsius above seasonal normal next week.

* The French Week 1 contract added 0.5% to 47.25 euros/MWh. The German position gained 1.4 percent to 46.75 euros/MWh.

* Along the curve, Germany’s Cal’20 baseload, European benchmark contract for delivery next year, was off 0.2% at 51.20 euros/MWh, having hit a nine-month high on Monday when related carbon prices soared to 11-year highs.

* The French equivalent contract for 2020 delivery was untraded at its 53.60 euros/MWh close.

* CO2 emissions permits for December 2019 expiry added 0.2% to 28.55 euros a tonne at 1100 GMT.

* Hard coal for northern European delivery in 2020 slipped 0.7% to $67.1 a tonne.

* In Eastern Europe, the Czech day-ahead baseload contract fell 2.5% to 48.75 euros/MWh. The year-ahead was down 0.6% at 54.10 euros. ($1 = 0.8918 euros) (Reporting by Bate Felix; Editing by Sudip Kar-Gupta)

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