FRANKFURT, March 23 (Reuters) - European power curve prices plummeted on Monday with German year-ahead delivery hitting a two-year low as carbon prices tanked and oil extended losses amid the coronavirus crisis.
* There are rising fears of a contraction in economic growth for the year after several more countries implemented isolation measures to curtail the spread of the virus, including further clampdowns in Germany and France on public gatherings. Industry demand is falling hard.
* Germany’s Cal ‘21 year-ahead baseload contract, lost 3.3% to trade at 33.5 euros ($36.00) a megawatt hour (MWh) at 1242 GMT, its lowest level since early March 2018.
* The equivalent French year-ahead contract stood 2.1% lower at 37.4 euros, just 20 cents above its contract low hit last week.
* December 2020 expiry European CO2 allowances were 7.1% down at 14.96 euros a tonne, having dropped to a session low of 14.34 euros earlier.
* Hard coal for northern European delivery in 2021 was untraded but bid below its $55.5 a tonne close on Friday.
* Spot electricity prices for the day-ahead fell from Monday delivery prices as French nuclear capacity rose. This overrode the price impact from demand gains due to cold weather.
* German Tuesday baseload was 11.3% down from the Monday price at 19.5 euros/MWh while the equivalent French price was down 12.5% at 19.3 euros.
* French nuclear power availability rose by 1.5 percentage points to 69.1% of available capacity.
* On the demand side, power consumption was expected to rise 1.9 GW day-on-day to 69.1 GW in Germany and by 5.7 GW in France to stand at 58.3 GW on Tuesday.
* In eastern Europe, Czech Tuesday baseload was untraded after Monday closed at 47.8 euros. Year-ahead power was bid at 37.5 euros after a close at 39.5 euros. ($1 = 0.9306 euros) (Reporting by Vera Eckert; Editing by Pravin Char)