* Carbon prices jump over 8 pct on Monday
* Oil over $50 per barrel
* Day-ahead spot prices rise on strong demand
PARIS, Oct 3 European forward electricity prices
rose on Monday supported by firmer carbon emission prices,
lingering concerns over French nuclear power availability and
cold weather as oil rose above $50 per barrel.
Year-ahead electricity contracts hit one-year highs last
week over reports that France might prolong planned maintenance
stoppages at 12 of its 58 nuclear reactors in the coming months
for additional checks.
France, a net exporter of power in Europe, depends on
nuclear power for 75 percent of its electricity needs. Extended
outages at its nuclear facilities could tighten supply in the
region as winter approaches.
"Weather forecasts turned significantly colder for next week
across north west Europe," a trader said. "Some nuclear plants
were delayed in France and emissions are much stronger."
The German benchmark Cal'17 year-ahead baseload
contract rose over 2 percent to 29.40 euros ($33.01) a megawatt
The less liquid equivalent French contract gained
1.25 euros or 3.29 percent to 39.50 euros/MWh, having opened at
a high of 39.6 euros in early trading.
Carbon prices, which utilities take into consideration in
the cost of power generation especially from coal, were also up
on Monday. Front-year EU carbon allowances jumped over
8 percent to 5.38 euros a tonne.
Coal, which accounts for more than 40 percent of German
power generation, pulled back somewhat on Monday, down 1.93
percent at $63.30. The benchmark 2017 coal futures
contract was still above an 18-month high.
Oil, which influences other energy prices, rose to its
highest since August above $50 a barrel on Monday, supported by
a planned production cut by exporter club OPEC, although
analysts cautioned the stubbornness of the existing supply
overhang could temper a longer-lasting rally.
In the day-ahead electricity market, prices rose on Monday,
boosted by strong demand despite increased wind power output.
German Monday baseload power price for Tuesday delivery
gained 3 euros to 30.8 euros/MWh compared with 34
euros paid for Monday delivery. The French contract
was slightly sideways at 43.75 euros /MWh compared with 44 euros
paid for Monday delivery.
Combined power demand for Germany and France on Tuesday is
forecast at 118.6 gigawatts (GW) compared with 103.2 GW the
previous day, while German wind power output is expected to rise
by 7 GW on Monday.
In eastern Europe, the Czech year-ahead 2017 contract
was untraded, having closed at 29.90 euros/MWh. The
spot price for Tuesday, was up 5.8 percent at 44.50
euros/MWh, compared with the settled price on Friday.
($1 = 0.8906 euros)
(Reporting by Bate Felix; editing by Susan Thomas)