EUROPE POWER-Spot prices rise on lower renewable, nuclear generation
PARIS: Prompt power prices rose in the European wholesale market on Monday as German wind power supply was forecast to dip and French nuclear availability fell as several reactors went offline for maintenance.
* The price of over-the-counter baseload power for Tuesday delivery in Germany was at a one-month high of 41.90 euros ($49.66) a megawatt hour (MWh) at 1026 GMT, up 8.1% from the price paid for Monday.
* The equivalent French contract for the day-ahead rose 9.5% to 40.50 euros/MWh.
* Electricity generation from German wind turbines is expected to slide 1.2 gigawatts (GW) to 3.2 GW on Tuesday, Refinitiv Eikon data showed.
* German solar power production is forecast to dip 400 megawatts (MW) to 7.2 GW day on day.
* French nuclear power availability fell 5.8 percentage points to 56.2% of the maximum installed capacity as three reactors went offline for maintenance and the outage at the Golfech 1 reactor was extended to January 2021.
* Power consumption is expected to rise in Germany by 1.3 GW day-on-day to 54.2 GW on Tuesday, while in France it is likely to edge up 230 MW to 40.9 GW, Refinitiv data also showed.
* On the week-ahead curve, the German price for next Monday delivery rose 4.75% to 32 euros/MWh, while the French price was untraded, showing a bid/ask price between 32.75 and 35.70 euros/MWh.
* Along the forward curve, Germany’s Cal ‘21 baseload , the European futures benchmark, ticked up 0.1% to 39.20 euros/MWh.
* The equivalent French year-ahead contract was untraded after closing at 44.5 euros/MWh on Friday.
* December 2020 expiry European CO2 allowances fell 0.4% to 25.38 euros a tonne.
* Hard coal for northern European delivery in 2021 was untraded after closing at $56.30 a tonne on Friday. ($1 = 0.8438 euros)
Source: reuters
