Spot for early next week mixed, renewables weigh in Germany

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Spot for early next week mixed, renewables weigh in Germany

June 10, 2017 Anand Gupta

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European spot electricity prices for early next week delivery diverged on Friday as a forecast increase in wind and solar power generation weighed on German prices, while tight nuclear, coal and gas power supply provided support in France.

* German baseload spot electricity for Monday fell 2.15 euros to 29.60 euros ($33.09) per megawatt-hour (MWh), compared with the price paid on Thursday for Friday delivery.
* French spot for Monday gained 45 cents to 32.50 euros/MWh, compared with the price paid for Friday delivery.
* German wind power output is forecast jump by 7.3 gigawatts (GW) on Monday to 14.3 GW compared with Friday, according to Thomson Reuters data. Solar power supply will rise by 690 megawatts (MW) to 7.2 GW.
* Available French nuclear power capacity is down one percentage point 69 percent compared with the previous day, and it was expected to fall further over the weekend with planned outages for scheduled maintenance at 4 nuclear reactors with a total capacity of about 4 GW.
* French coal-fired power generation is expected to fall by 590 MW on Monday. Electricity from gas power generation will slide by 280 MW over the same period.
* Electricity demand is expected to be depressed in both countries on Monday due to warm weather. Average temperatures seen up by 1.6 degrees Celsius in Germany, and up about 1 degree in France.
* German Monday consumption is forecast to fall by 420 MW to 69 GW. In France, demand will decline by 170 MW to 45 GW.
* In the forward power curve, prices fell, tracking lower oil and carbon. The German Cal ’18 benchmark was down 0.48 percent at 30.85 euros/MWh.
* The equivalent French contract dipped 0.41 percent to 36.15 euros/MWh.
* The December expiry EU carbon contract fell 0.79 percent 5.01 euros a tonne.
* In eastern Europe, the Czech contract for Monday was untraded with a bid/ask price of 35.50/40 euros/MWh. The year-ahead contract gained 0.48 percent to 31.40 euros/MWh.($1 = 0.8945 euros) (Reporting by Bate Felix, editing by David Evans)