January 18, 2018 / 1:37 PM / a month ago

EUROPE POWER-Day-ahead spot gains on drop in wind power generation

PARIS, Jan 18 (Reuters) - European spot power prices for day-ahead delivery rose in the wholesale market on Thursday, buoyed by forecasts showing a sharp fall in wind electricity generation and increased demand in France because of cold weather.

* The German prompt power price for Friday delivery soared 27.5 percent, or 8.40 euros, to 39 euros per megawatt-hour (MWh).

* The French contract gained 4.10 euros, or 11.4 percent, to 40.10 euros/MWh.

* Electricity generation from German wind turbines is expected to fall to 13.2 gigawatts (GW) on Friday, compared with 26.6 GW the previous day, according to one forecast.

* French wind power availability is expected to drop by 3.7 GW to 5.7 GW, Thomson Reuters data shows.

* The French government on Thursday announced a 10-point plan to accelerate development of wind projects to double the country’s installed generation capacity to 26 GW by 2023.

* Available French nuclear capacity, which accounts for more than 75 percent of its electricity needs, is steady at 91.6 percent of the available total.

* French consumption is expected to rise by 590 megawatts to 68.2 GW as the average temperature drops on Friday by a forecast 1.5 degrees Celsius from Thursday, Thomson Reuters data shows.

* Week-ahead prices fell on a warmer weather outlook, a London-based trader said.

* The French contract for Week 1 dipped 5.16 percent to 36.75 euros/MWh. The German position slipped nearly 3 percent to 34.75 euros/MWh.

* Further along the power curve, Germany’s Cal ‘19 baseload contract was flat at 34.85 euros/MWh.

* The equivalent French contract was untraded at its 40.15 euros/MWh close.

* December 2018 expiry European carbon emissions permits added 0.73 percent to 8.24 euros a tonne.

* Cif Europe coal for 2019 rose 1.13 percent to $84.95 a tonne.

* In eastern Europe, the Czech baseload contract for Friday delivery , which mirrors the German contract, gained 7.45 euros to 39.50 euros/MWh. The Czech year-ahead position added 0.14 percent to 35.95 euros/MWh.($1 = 0.8165 euros) (Reporting by Bate Felix; Editing by David Goodman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below