January 5, 2018 / 12:21 PM / 2 months ago

EUROPE POWER-Prospect of colder conditions lifts next week prices

FRANKFURT, Jan 5 (Reuters) - European power prices for Monday jumped in wholesale market trading on Friday on expectations for a sharp drop in temperatures and returning industrial demand.

* “Nearby fundamentals are tightening, also due to falling renewable output,” one trader said, citing lower wind power output after winter storms earlier this week pushed up production from turbines.

* The price of German baseload power for Monday delivery jumped to 35 euros ($42) per megawatt hour (MWh), up 16.7 percent from the price paid for Friday delivery.

* The equivalent French contract jumped by 19.1 percent to 40.5 euros.

* Thomson Reuters data showed German wind power production is due to fall to 17.2 gigawatts (GW) on Monday from 23.5 GW expected for Friday and to range between 6.9 and 14.6 GW next week. On Wednesday, wind power output peaked at 35 GW.

* Average daily power demand is set to rise to 67.5 GW in Germany next week, compared with Friday’s 63.3 GW. In France, it will climb to 65.4 GW from 61.1 GW in the same period when average temperatures will fall around 4 degrees Celsius in both countries.

* Thermal operators are trying to counteract potential shortfalls in supply, data from the EEX bourse showed. German and Austrian operators are due to raise capacity availability by 2.9 percent over the next seven days.

* Further out, the German year-ahead Cal’ 19 delivery contract stood 0.1 percent higher at 36.45 euros, amid mostly weaker prices for related fuels.

* The equivalent French forward power contract for the coming year was unchanged at 41.5 euros.

* Cif Europe coal for 2019 did not trade after a close at $85.75 a tonne.

* December 2018 expiry carbon emissions permits edged 0.1 percent higher to 7.78 euros a tonne.

* In eastern Europe, the Czech spot price for Monday did not trade after Friday delivery closed at 31.75 euros. The Czech year-ahead contract was off 15 cents at 37.55 euros. ($1 = 0.8300 euros) (Reporting by Vera Eckert; Editing by Mark Potter)

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