April 17, 2018 / 10:22 AM / 5 days ago

EUROPE POWER-Day-ahead power prices tumble on forecast fall in demand

FRANKFURT, April 17 (Reuters) - European spot electricity prices for day-ahead delivery fell on Tuesday on the back of forecasts showing a drop in consumption due to mild weather, while French nuclear power availability is expected to improve.

* French baseload power contract for Wednesday delivery tumbled 8.7 percent, or nearly 4 euros, to 40.85 euros ($50.58) a megawatt-hour (MWh).

* The German spot contract for Wednesday was down 8.7 percent at 40.60 euros/MWh.

* Electricity demand in France is expected to fall by 2.1 gigawatts (GW) on Wednesday to about 50 GW, Thomson Reuters data showed. Average temperature is expected to rise by 2.6 degrees Celsius during the same period.

* Consumption in Germany is seen at 61.4 GW on Wednesday, down from 62.2 GW the previous day, while average temperature will increase by 1.4 degrees Celsius, another forecast showed.

* A trader said latest weather models seem warmer than previously expected, keeping the pressure on power prices.

* On the supply side, French nuclear power availability, which accounts for over 75 percent of its electricity needs, could improve sharply with the planned restart of three EDF-operated nuclear reactors by Wednesday morning.

* French nuclear power availability was at 72.5 percent of capacity on Tuesday.

* A dearth of wind power generation is expected in Germany, with electricity production from wind turbines adding just about 31 megawatts on Wednesday to 3.2 GW, one forecast showed.

* In the year-ahead market, the European benchmark, Germany’s Cal’19, dipped 0.13 percent to 38.30 euros/MWh, retreating from an all-time high the previous day.

* The equivalent French contract for 2019 was down 0.8 percent at 43 euros/MWh.

* European carbon emissions rights for December 2018 expiry were flat at 14 euros a tonne.

* Cif Europe coal for 2019 slipped 15 cents to $82.60 a tonne.

* In eastern Europe, Czech day-ahead power price slumped nearly 10 percent to 40.40 euros/MWh. The year-ahead contract was down 1.2 percent at 39.13 euros/MWh.. ($1 = 0.8076 euros) (Reporting by Bate Felix; Editing by Mark Potter)

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