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CEE POWER-Mild weather, sunshine pressure Czech spot
March 20, 2012 / 3:57 PM / 6 years ago

CEE POWER-Mild weather, sunshine pressure Czech spot

* Solar production forecast to rise to 4.1 GW
    * Czech Cal '13 falls 1 pct to 50 euros
    * Spot falls in Hungary, Poland

    PRAGUE, March 20 (Reuters) - Healthy supply, low consumption
and strong solar generation in the region pressured Czech day
ahead prices on Tuesday while long-term prices fell along with
oil, traders said.	
    Electricity for Wednesday delivery fell 1.30 euros to 41
euros ($54.29) per megawatt hour in the over-the-counter market,
with the discount to Germany widening to more than 4 euros.	
    Market operator OTE cleared day ahead baseload a touch lower
than the over the counter price at 40.94 euros with peak prices
at 44.33 euros as mild temperatures cut into demand.	
    Data from Thomson Reuters Point Carbon showed forecasts for
solar production in Germany at 4.1 GW, a little less than double
from the previous day.	
    "Solar production continues to increase," Point Carbon
analysts wrote.	
    Further along the curve, the front month fell half a percent
to 42.20 euros while Cal '13 baseload slumped more than 1
percent to 50 euros, reversing gains from a day earlier.	
    Around the region, the benchmark German Cal '13 contract
dipped 64 cents to 52.1 euros in late afternoon trade on
Germany's EEX.	
    A management board member at Poland's gas monopoly PGNiG
 said the utility plans to reduce this year's purchases
from Russia to a contracted minimum without incurring penalties.
    Day ahead on Poland's POLPX exchange fell to 159.25 zlotys
($51.30) from 162.53 zlotys while electricity for Wednesday
declined to 45.48 euros from 48.87 euros on Hungary's HUPX.	
    Brent crude fell as Kuwait said Iran had reassured the Gulf
state it would not close the strategically important Strait of
Hormuz shipping lane and Saudi Arabia signaled it was ready to
increase supply. 	
    EUAs for December delivery, the bellwether carbon
contract, tumbled more than 5 percent to 7.38 euros a tonne at
1438 GMT.	
($1 = 0.7552 euros)	
($1 = 3.1045 Polish zlotys)	
 (Reporting by Michael Kahn; Editing by Alison Birrane)

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