March 20, 2012 / 5:07 PM / in 6 years

Europe Power-Warm weather pushes prices lower

PARIS/BERLIN, March 20 (Reuters) - European electricity
prices were stable to weaker on Tuesday as temperatures were
above seasonal averages and power use was expected to fall
gradually until the end of the week, traders said.	
    French baseload prices for Wednesday delivery fell by 5
euros to 50.00 euros ($66.21) per megawatt hour in the
over-the-counter market, while the German equivalent contract
was 15 cents higher at 45.50 euros.	
    The German contract showed some resistance as its wind power
capacity usage is due to halve to less than 2,500 MW on
Wednesday and stay at low levels until Sunday, weather watchers
said.	
    Temperatures in Germany will be rising to a range of 15 to
21 degrees Celsius on Friday, compared with 11 to 15 degrees on
Tuesday, meteorological office DWD said. 	
    In France, temperatures will be some 3 degrees above average
until the end of the week, RTE said, adding consumption would
gradually decline from 70,180 MW on Monday to 64,000 MW on
Friday.	
    In outage news, E.ON's 323 MW Kiel hard coal block was out
until Wednesday due to a boiler problem, according to the
company's transparency website.	
    Power curve prices declined with those of oil, carbon and
coal.	
    Oil dropped 1 percent on Tuesday as Saudi Arabia sought to
knock back the rise in prices and its oil minister made the most
detailed argument to date that the OPEC nation was prepared to
meet any supply shortfalls. 	
    German Cal '13 was 50 cents down at 52.20 euros, while the
French contract fell by 55 cents to 52.60 euros.    	
    French bank SocGen said in its Europe power price forecast
that it was keeping its estimate for Germany's Cal '13 baseload
at 51.7 euros/MWh this year and putting Cal '14 0.2 euros down
at 53.7 euros/MWh. It says France should carry a
premium. 	
    ($1 = 0.7552 euros)	
	
 (Reporting by Vera Eckert and Muriel Boselli; Editing by Jane
Baird)

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