March 19, 2020 / 11:28 AM / 2 months ago

EUROPE POWER-Prompt prices slump on expected wind power rise

PARIS, March 19 (Reuters) - European spot electricity prices for day-ahead delivery fell on Thursday due to a forecast rise in power generation from wind turbines, while demand is expected to ease ahead of the weekend.

* The price of day-ahead over-the-counter baseload for Friday delivery in Germany was down 19.2% to 24.25 euros ($25.97) a megawatt hour (MWh) at 1059 GMT.

* The French day-ahead contract was down 20.6% to 20.25 euros/MWh.

* Electricity generation from German wind turbines is expected to rise by 6.2 gigawatt (GW) day-on-day to 9 GW on Friday.

* French wind power supply is expected to increase by 2.2 GW to 3.6 GW, Refinitiv data showed.

* French nuclear power availability was steady on Wednesday at 69% of available capacity.

* On the demand side, power consumption is expected to fall 950 megawatts (MW) day-on-day in Germany to 66.4 GW on Friday.

* French electricity demand will decrease by 2.2 GW to 51.4 GW on Friday, Refinitiv data showed.

* Further along the power curve, year-ahead contracts tracked the rebound in carbon prices after touching near two-year lows the previous session.

* Germany’s Cal ‘21 baseload, the European futures benchmark, gained 1.9% to 34.55 euros/MWh.

* The equivalent French year-ahead contract added 1.4% 37.5 euros/MWh.

* December 2020 expiry European CO2 allowances were 5.1% up at 16.03 euros a tonne, having fallen to 21 month-lows on Wednesday.

* Hard coal for northern European delivery in 2021 dipped 0.2% to $55.20 a tonne.($1 = 0.9240 euros) (Reporting by Forrest Crellin Editing by Alexander Smith)

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