April 24, 2018 / 11:05 AM / 3 months ago

EUROPE POWER-Spot down on more wind, lower demand

FRANKFURT, April 24 (Reuters) - Higher wind supply and easing demand on Tuesday curbed prompt power prices in the European wholesale market while forwards tracked lower coal prices.

* Traders said outlook remains bearish as French nuclear supply improved and demand due to fall sharply next week

* Germany’s baseload contract for Wednesday at 28.75 euros ($35.11) a megawatt hour (MWh), 16 percent down

* The same French price dropped 20 percent to 27.75 euros

* German power demand to ease by 200 megawatts (MW) in Germany and by the same level in France day-on-day to respectively 61.2 gigawatts (GW) and 47.1 GW, according to Thomson Reuters data

* Wind output to grow to 15.8 GW on Wednesday in Germany from 14.5 GW a day earlier, outlook for Thursday is for 16.7 GW

* Along the forward curve, Germany’s Cal’19 key contract 0.4 percent off at 37.7 euros, one euro below its all-time record a week ago

* The equivalent French contract for 2019 off 0.4 percent at 42.75 euros

* Related European carbon emissions rights for December 2018 expiry sideways at 12.91 euros a tonne, in wake of rallies last week

* Cif Europe coal for 2019 down 0.7 percent at $82.75 a tonne

* By contrast, gas, oil markets see prices gains

* Czech Wednesday contract down 5 euros at 30 euros, Czech Year-Ahead off 30 cents at 38.85 euros

* German utility Innogy at its annual general meeting sees unresolved questions around the planned asset swap between parent RWE and rival E.ON

* ($1 = 0.8188 euros) (Reporting by Vera Eckert Editing by Louise Heavens)

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