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CEE POWER-Hungary's spot jumps 34 pct on heat
July 2, 2012 / 1:18 PM / 5 years ago

CEE POWER-Hungary's spot jumps 34 pct on heat

* Hungary’s spot soars on heat wave

* No export seen from Serbia, very little from Bosnia

* Poland, Lithuania move toward linking gas systems

PRAGUE, July 2 (Reuters) - Czech spot power prices rose slightly on a forecast for a continued low levels of renewables, while power in Hungary soared as a heat wave boosted consumption in the Balkans, traders said on Monday.

Electricity for Tuesday delivery rose more than 3 percent to 49.10 euros on the Czech market operator OTE. The contract fell to 46.65 euros ($59.20) per megawatt-hour, down 15 cents from the Friday-for-Monday delivery price in the over-the-counter market.

Data from Thomson Reuters Point Carbon showed wind production in Germany was forecast to fall to 1.3 GW on average, with solar generation decreasing to 3.3 GW.

Further along the curve, the Czech Cal ‘13 baseload was assessed at 47.30 euros down from 47.60 euros in slow afternoon trade on the Prague-based Power Exchange Central Europe on weaker oil and commodities.

Czech power utility CEZ said it received bids to build nuclear reactors from France’s Areva, Toshiba Corp unit Westinghouse and Russia’s Atomstroyexport, in the country’s largest procurement deal, worth roughly $10 billion.

Benchmark German Cal ‘13 contract lost 35 cents to 48.40 euros on Germany’s EEX.

Power for Tuesday on Hungary’s HUPX exchange jumped to 117.7 euros from 76.82 euros because of limited cross-border capacity in the Balkans as temperatures soared to up to 35 degrees Celsius in the region and Hungary, traders said.

“Both base and peak have risen by more than a third as demand for air-conditioning has gone up. Contracts for Wednesday and Thursday are also trading above 100 euros per MWh which means the heat wave is expected to continue,” a trader said.

“There are no power exports from Serbia while Bosnia exports only 20 to 30 megawatts of electricity despite such high prices,” the trader added.

Day ahead on Poland’s POLPX rose to 190.69 zlotys ($57.14) from 187.69 zlotys.

Polish and Lithuanian gas system operators hired an engineering firm to prepare a feasibility study of a link that would connect their pipeline systems as part of a push by the European Union to integrate Europe’s energy markets.

Oil fell by more than $2 as most commodities began the third quarter in the red, weighed down by weak factory data from China and Europe as well as doubts over an EU deal that had fuelled the market’s biggest rally since 2009.

EUAs for December delivery, the bellwether carbon contract, also fell more than 2 percent to 8.11 euros a tonne at 1338 GMT, after climbing to its four-month peak of 8.48 euros on Friday. ($1 = 0.7880 euros) ($1 = 3.3373 Polish zlotys) (Reporting By Maja Zuvela, editing by William Hardy)

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