EUROPE POWER-2020 quarterly prices rise on French nuclear issues

  • Sep 12, 2019
  • Reuters - Africa

(Recasts with curve rises, updates prices, Refinitiv data)

FRANKFURT, Sept 12 (Reuters) - Quarterly prices for 2020 electricity rose in the European wholesale market on Thursday after French reports of nuclear sector shortcomings in maintenance and oversight, potentially resulting in lost production.

* French over-the-counter prices for baseload power for first-quarter delivery rose 1.7% to 65.10 euros ($71.54) per megawatt hour (MWh). The second quarter was up 4.7% at 44.30 euros while the December price gained 8% to 68 euros.

* The equivalent German contract for the first quarter was up 1% while the fourth quarter of 2020 also gained 1%.

* The head of French regulator ASN told newspaper Figaro that at least five reactors operated by utility EDF might be affected by welding problems on their steam generators.

* Annual benchmarks were steady to higher. Germany’s Cal’20 baseload contract stood at 50.20 euros at 1330 GMT, well away from Thursday’s five-week high of 51.30 euros.

* The equivalent French contract for 2020 increased 0.3% to 53.70 euros, well below Thursday’s eight-week high of 55.10 euros.

* European CO2 permits for December 2019 added 0.8% to 26.5 euros a tonne.

* Hard coal for northern European delivery in 2020 traded 0.7% up at $68.70 a tonne.

* Prompt power prices fell as more wind power arrived and demand eased before the weekend.

* French baseload for Friday fetched 36.50 euros, down 3.3%.

* The German day-ahead equivalent fell 5.6% to 36.40 euros.

* German wind power supply is expected to rise to 16.9 gigawatts (GW) on Friday, from the 12.7 GW expected for Thursday, Refinitiv data showed. Next week, daily levels could rise to more than 20 GW.

* In France, nuclear reactor availability remained at 69% of maximum capacity.

* On the demand side, German usage was forecast to fall by 1 GW to 62.4 GW and France by 400 MW to 46.4 GW, with temperatures falling slightly in Germany and edging higher in France. ($1 = 0.9099 euros) (Reporting by Vera Eckert Editing by Dale Hudson and David Goodman)

Register for access to the Energy news and press releases