December 27, 2018 / 11:50 AM / 7 months ago

EUROPE POWER-German day-ahead supported by expected rise in demand

PARIS, Dec 27 (Reuters) - European spot electricity prices for day-ahead delivery diverged on Thursday as a forecast fall in wind power generation and a rise in demand provided support to the German contract, while increased nuclear power and lower demand weighed in France.

* The benchmark German baseload spot power price for Friday delivery gained 2.6 percent to 55.75 euros ($66.65) a megawatt hour (MWh).

* The French Friday delivery contract slipped 3.6 percent to 60.25 euros/MWh.

* German electricity demand is expected to rise by 1.3 gigawatts (GW) on Friday to 58 GW, according to Refinitiv Eikon data.

* Wind power generated by German turbines is expected to fall by 2.1 GW to 9.2 GW, the data showed.

* In France, power consumption is forecast to fall by 1.2 GW to 67.2 GW. The average temperature in France is seen rising by 1.3 degrees Celsius on Friday.

* French wind power supply is expected to rise by 260 megawatts (MW) to around 900 MW. French nuclear availability added two percentage points to reach 92.4 percent of total capacity on Thursday, according to Reuters estimates.

* Only four of France’s 58 nuclear reactors are currently offline for maintenance. Three of the four reactors are expected back online in the first week of January when power demand for heating is expected to rise due to cold weather.

* The French January delivery contract was down 7.4 percent at 70.75 euros/MWh. The German equivalent slipped 6.4 percent to 58.80 euros/MWh.

* Further along in the year-ahead curve, the German baseload contract for 2019 delivery, Europe’s benchmark, fell 1.4 percent to 54.50 euros/MWh alongside related fuels.

* The French year-ahead contract was untraded at its 61.35 euros/MWh close.

* European December 2019 expiry CO2 emissions rights were down 0.7 percent at 24.96 euros per tonne.

* European coal for 2019 delivery was untraded at its close of $88 a tonne. ($1 = 0.8777 euros) (Reporting by Bate Felix; Editing by Mark Potter)

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