EUROPE POWER-Spot prices rise on sharp fall in wind generation and increased demand

  • Feb 11, 2019
  • Reuters - Africa

PARIS, Feb 11 (Reuters) - European spot electricity prices for day-ahead delivery rose on Monday, buoyed by forecasts showing a sharp fall in wind power generation and an increase in consumption due to cold weather.

* Germany’s over-the-counter baseload contract for Tuesday delivery gained 13 euros to 47.50 euros ($53.67) a megawatt hour (MWh), compared with the price paid on Friday for Monday delivery.

* The French next-day spot delivery price added 7 euros to 53.50 euros/MWh compared with the Monday delivery price paid on Friday.

* Electricity generation from German wind turbines is expected to plunge day-on-day on Tuesday by nearly 16 gigawatts (GW) to 16.7 GW, according to Refinitiv Eikon data.

* German electricity consumption will rise by 1.8 GW on Tuesday to 73 GW, the data showed, while the average temperature will fall by 1 degree Celsius.

* In France, electricity demand is expected to jump by 5.2 GW on Tuesday to 72.7 GW as average temperature will drop by 2.6 degrees Celsius, increasing demand for heating.

* A forecast by French power grid operator RTE showed that the average temperature in France will drop by two degrees below the seasonal level on Tuesday at the start of a cold snap that will last all week, pushing the average peak daily electricity demand to over 80 GW.

* Prices for next week delivery tumbled as forecasts showed temperatures easing after the weekend, a trader said.

* The French Week 1 position was down 9 percent at 47.90 euros/MWh. The German Week 1 delivery contract fell 6.2 percent to 45.25 euros/MWh.

* French wind power generation will tumble by 4.2 GW on Tuesday to 800 megawatts (MW).

* In France, nuclear power availability has been stable at 89 percent of installed capacity.

* Along the year-ahead power curve, contracts dipped on weaker coal, carbon and gas prices.

* Germany’s Cal’20 year-ahead baseload contract, the European benchmark, was 1.5 percent down at 46 euros/MWh.

* The equivalent French year-ahead contract shed 2.1 percent to 49.40 euros/MWh.

* European December 2019-expiry CO2 emissions rights dropped 1.7 percent to 21.97 euros a tonne.

* Hard coal for northern European delivery in 2020 was down 1.3 percent at $76.20 a tonne.

* In Eastern Europe, Czech Monday baseload power added 75 cents to 48.25 euros/MWh. Year-ahead power was down 4.1 percent at 78 euros/MWh. ($1 = 0.8850 euros) (Reporting by Bate Felix; Editing by Sudip Kar-Gupta)

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