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Europe Power-Spot prices rise on Epex bourse
July 2, 2012 / 3:38 PM / 5 years ago

Europe Power-Spot prices rise on Epex bourse

* Lower wind power output expected in Germany
    * Temperatures to rise but still neutral
    * Curve drops with oil

    FRANKFURT, July 2 (Reuters) - European prompt power prices
were boosted by lower wind and nuclear power in France on
Monday, which resulted in higher midday prices for the day ahead
on the Epex Spot Exchange.
    The bourse's Tuesday price for German baseload, at 49.63
euros a megawatt hour, was up over 5 euros from the
Monday price (44.47 euros) and 2.20 euros above the OTC
day-ahead price earlier in the session of 47.45 euros. 
    This OTC level had also been up 50 cents on the trading day
compared with Friday's OTC level.
    The French Epex exchange fixing for day ahead delivery, at
49.47 euros, was 5.50 euros up on the day.
    German wind power output was seen down by a fifth on Tuesday
at 1.3 GW, according to Point Carbon.
    This, together with the continued tight French nuclear
supply, overrode higher solar power expectations and the return
of RWE's Emsland nuclear reactor last weekend, adding 1,458
    Temperatures were neutral for consumption - they were seen
climbing some 5 degrees this week, eliminating heating demand.
But they will stay well under 30 degrees and thus not trigger
too much air conditioning demand.
    Forward electricity prices were down with oil, carbon and
    Brent crude fell towards $96 a barrel after weak data from
Europe and Asian economies and on worries over the euro zone
crisis, as enthusiasm over Friday's EU bank bailout faded. 
    The Cal' 13 benchmark in Germany for baseload
power next year was down 50 cents to 48.45 euros in the OTC
market. France's equivalent year-ahead contract shed 25 cents to
49.90 euros.
    In other news, a study by energy and financial consultancy
Baringa said many European utilities are ignoring at their peril
EU rules to toughen laws against market abuses. 
    While authorities are built up to implement the legislation,
companies are losing valuable time to respond with their own

 (Reporting by Vera Eckert; Editing by Alison Birrane)

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