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European spot power prices for early next week lifted by lower renewables

European spot power prices for early next week lifted by lower renewables

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The German baseload electricity contract for Monday gained 1.5 euros to 40.75 euros ($48.85) a megawatt hour (MWh), compared with the price paid on Thursday for Friday delivery.

PARIS: European spot electricity prices for early next week delivery rose on Friday, lifted by forecasts showing lower renewable and nuclear power output, while demand is expected to fall due to slightly warmer weather.

The German baseload electricity contract for Monday gained 1.5 euros to 40.75 euros ($48.85) a megawatt hour (MWh), compared with the price paid on Thursday for Friday delivery.

The French contract added 2.85 euros to 42.50 euros/MWh, compared with the Friday delivery price.

German wind electricity production will rise by 2.5 gigawatts (GW) on Monday to 4.8 GW, but this is expected to be cancelled out by a 1.7 GW drop in solar power supply, according to Thomson Reuters data.

Wind power supply is expected to be lower in northwest Europe early next week, a trader said.

In France, where atomic power accounts for over 75 percent of electricity needs, nuclear power availability fell to 70.44 percent of capacity from 72.5 percent due to delays in the restart of several reactors.

Power station operators in Germany and Austria are set to raise capacity availability by 2.9 percent in the seven-day period to Sept. 29 at their mainly thermal generation plants, European Energy Exchange (EEX) data showed on Friday.

Electricity demand will fall by 1.4 GW on Monday to 48.2 GW as the average temperature rises by 1 degree Celsius. In Germany, consumption is expected to decline by 150 megawatts to 69.6 GW. Average temperature will rise by half a degree.

Along the forward power curve, prices dipped, tracking coal. The European benchmark German Cal ’18 contract slipped 0.06 percent to 35.13 euros/MWh. The less liquid French year-ahead contract fell 0.48 percent to 41.40 euros/MWh.

December 2017 expiry EU carbon permits, gained 0.76 percent to 6.61 euros a tonne, while coal cif Europe for 2018 delivery was down 0.43 percent at $81.65 a tonne.

In eastern Europe, the Czech Monday contract, which tracks the German spot, added 1 euro to 40.70 euros/MWh, while the year-ahead contract fell 0.28 percent to 35.45 euros/MWh. ($1 = 0.8342 euros).

Source: energy.economictimes.indiatimes
Anand Gupta Editor - EQ Int'l Media Network

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