(Updates prices throughout)
FRANKFURT, July 7 (Reuters) - European prompt power prices for early next week rose on Friday due to forecasts for lower wind and nuclear supply, which overrode falling consumption. Power forwards stabilised at new highs set on Thursday as related commodities retreated.
* The German baseload contract for Monday was up 2.5 percent from the price paid for Friday at 38.35 euros ($43.78) per megawatt-hour (MWh).
* The equivalent French price for Monday was indicated in a range of 39-39.75 euros. It remained untraded after a 30.5 euros closing level had been seen for Friday.
* Electricity production from German wind turbines is predicted to stand at 4.9 gigawatts (GW) on Monday in one scenario, which puts expected output on Friday at 6.5 GW, Thomson Reuters data showed.
* In the nuclear maintenance season, Germany will see the Gundremmingen C and Isar 2 reactors close over the next two days, taking 2.8 GW out of action for several weeks. This comes in addition to the prolonged, ongoing outage of the 1.5 GW Brokdorf reactor.
* On the demand side, daily usage on Monday will likely fall by 1.2 GW and 1.7 GW respectively in Germany and France from anticipated Friday levels. Currently summery temperatures are in for drops of 2 to 4 degrees Celsius by Monday, and for a further cooling afterwards.
* Along the curve, Germany’s 2018 baseload power contract , the European benchmark, stood little changed at 31.65 euros/MWh, having hit a two-year high on Thursday amid a coal price rally sparked by Chinese buying.
* The equivalent French year-ahead contract, which is not highly liquid, rose 15 cents to 37.45 euros/MWh.
* Coal cif North Europe declined by 0.8 percent to $72.1, but is still at a level last seen in November.
* Coal accounts for more than 40 percent of German power generation, hence its influence on electricity prices.
* The price of Dec ‘17 expiry carbon pollution rights, which electricity generators must hold to offset their emissions, gained 2.5 percent to 5.37 euros a tonne.
* Major Eastern European power contracts were dormant. Czech Monday delivery failed to change hands, after Friday had closed at 38 euros/MWh. Czech year-ahead power, which had closed at 32.2 euros, also remained untraded.($1 = 0.8759 euros) (Reporting by Vera Eckert; Editing by Dale Hudson)