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Europe Power-Curve flat as weak fuels trump firm oil
July 16, 2012 / 1:48 PM / 5 years ago

Europe Power-Curve flat as weak fuels trump firm oil

* Forwards sideways, weak carbon, gas, coal override firm
    * French nuclear supply tight again, lowers exports
    * This drives up prompt prices in Germany, France

    FRANKFURT, July 16 (Reuters) - Europe's forward power prices
remained stable on Monday as the impact of firmer oil was offset
by weaker CO2, gas and coal prices which are all important
inputs for power generation.
    Germany's contract for baseload next year, Cal '13, was at
48.0 euros ($58.8) a megawatt hour, its Friday level,
while the equivalent French contract remained unchanged at 49.70
    Oil prices held steady above $102 a barrel, supported by
weekend comments from China's Premier Wen Jiabao that the
government would step up its efforts to boost the economy of the
world's second-largest oil consumer. 
    Gas prices in north-west Europe sank as temperatures rose
and Norway boosted exports towards winter levels. 
    Spot electricity prices rose in both countries, mainly
driven higher by some French nuclear restart delays which curbed
the country's export potential. Online nuclear capacity in
France was at 43 MW, with 20 MW offline. 
    Another bullish factor was falling output of wind and solar
power, traders said.
    Tuesday delivery baseload power in Germany jumped by 4.75
euros to 45.25 euros and by 2.25 euros in France to 45.50 euros,
 compared with prices paid for Friday delivery.
    Germany's Gundremmingen B nuclear reactor stopped on
Saturday until Aug. 5, according to operator RWE, which
confirmed long-term schedules. 
    Weather reports were for rising temperatures in Germany,
with a range of 18 to 29 degrees seen in Germany by Thursday
compared with 16 to 22 degrees on Monday.
    Paris weather was forecast at up to 26 degrees on Wednesday
but seen falling back to 21 degrees maximum again a day later,
which is much too cold for this time of year.
    Elsewhere, EU energy chief Guenther Oettinger wrote in
Germany's business daily Handelsblatt about rising concern about
Europe's flagging industrial prowess, where high energy and in
particular power prices could worsen the burden for consumers.
    This echoed concern inside Germany about runaway power costs
which stem from overly high renewable charges and more than
offset the influence of historically weak wholesale power
($1 = 0.8167 euros)

 (Reporting by Vera Eckert; editing by James Jukwey)

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