FRANKFURT, Jan 17 (Reuters) - European wholesale spot power prices for day-ahead delivery rose on Wednesday as demand held up firmly while next week’s positions posted losses on forecasts for higher temperatures.
* “There’d been overly bullish expectations for the weather next week which exaggerated prices,” one trader said.
* Germany’s baseload for Thursday delivery was at 30.65 euros ($37.52) per megawatt-hour (MWh), up 5.7 percent and the corresponding French power contract gained nearly 21 percent, or 6.75 euros, to 39 euros/MWh.
* Germany’s baseload for the week ahead was 6.8 percent off at 36.35 euros and French power for next week was down 6.5 percent at 39.5 euros.
* Thomson Reuters forecasts for daily average demand next week, at 69.6 gigawatts and 65.8 GW for Germany and France respectively, are 0.5 GW and 4.6 GW above projections for next week on Tuesday, while average temperature levels are now anticipated two degrees Celsius higher than in Tuesday forecasts.
* On the supply side, there are strong wind speeds to drive turbine output in main producer country Germany and conventional capacity availability is also quite high.
* Available French nuclear capacity is steady at 91.6 percent of the available total.
* Along the forward curve, Germany’s Cal ‘19 baseload contract was down 20 cents at 34.9 euros/MWh.
* The position, the European benchmark, has lost 5.7 percent since the beginning of the new year amid losses in related coal and carbon prices.
* Signs that coalition government talks in Germany will leave ample coal generation capacity relatively unscathed for now are also bearish.
* The French equivalent contract for Cal ‘2019 lost 25 cents to 40.2 euros.
* Related December 2018 expiry Eurpoean carbon emissions permits were a touch higher at 8.06 euros a tonne.
* Cif Europe coal for 2019 traded 1.6 percent down to $84.5 a tonne.
* In eastern Europe, the Czech baseload contract for day-ahead delivery did not trade after a close at 31.75 euros in the previous session. Czech year-ahead power lost 40 cents to 35.85 euros. ($1 = 0.8169 euros) (Reporting by Vera Eckert; Editing by Keith Weir)