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CEE POWER-Czech spot falls on lower pre-Easter demand
April 5, 2012 / 1:42 PM / 6 years ago

CEE POWER-Czech spot falls on lower pre-Easter demand

* More wind, solar forecast in the region

* Cal ‘13 flat amid quiet pre-holiday trading

* Day ahead up in Hungary

PRAGUE, April 5 (Reuters) - Lower demand as many countries prepared to observe a long Easter holiday weekend sent Czech spot prices down while power curve prices were unchanged, traders said on Thursday.

Power for Friday delivery traded at 37.50 euros ($49.19) per megawatt-hour down from 47.50 a day ago in the over-the-counter market, while spot power on Czech market operator OTE fell 21.5 percent to 39.69 euros.

Thomson Reuters Point Carbon analysts said the massive drop in consumption was pushing down baseload power significantly and more solar and wind power production forecast towards the evening were adding to the bearish pressure.

Further along the curve, May contract and Cal ‘13 traded flat at 39.40 euros and 49.55 euros, respectively.

Around the region, the benchmark German Cal ‘13 contract rose 20 cents to 51.50 euros in late afternoon trading on Germany’s EEX.

The initial public offering (IPO) of Poland’s top coal trader Weglokoks may take place in early 2013 rather than late 2012, as market conditions may be more favourable then, a Polish minister was quoted as saying on Thursday.

Day ahead on Poland’s POLPX fell to 161.71 zlotys ($51.05) from 172.89 zlotys, while on Hungary’s HUPX, electricity for Friday rose to 61.03 euros from 56.35 euros, with fresh supply fears from low water levels adding support.

Oil rose above $123 a barrel, bouncing from sharp falls in the previous two sessions, on growing concerns over Iranian oil supplies being disrupted due to Western sanctions.

The price of EU carbon futures rose to 6.52 euros a tonne, or close to 5 percent at 1405 GMT, rebounding from an all time low hit on Wednesday on fears of over-supply. ($1 = 0.7623 euros) ($1 = 3.1680 Polish zlotys) (Reporting By Maja Zuvela; Editing by Helen Massy-Beresford)

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