Lower wind power production and limited solar availability drove German spot electricity prices higher in the European wholesale market on Wednesday, while lower demand weighed on French spot levels.
* The German baseload power price for Thursday delivery was up 11 percent at 37.2 euros ($41.74) per megawatt-hour (MWh).
* The equivalent French day-ahead contract lost 2 percent to 40.55 euros/MWh.
* German wind power was set to generate 4 gigawatts (GW) on Thursday and 1.8 GW on Friday compared with expected volumes of 12.6 GW on Wednesday, according to Thomson Reuters data.
* German solar output is due to stay around daily averages of 7-9 GW until the middle of June, compared with installed capacity of 41 GW.
* Demand is due to ease by 0.3 GW day-on-day in Germany and by 0.2 GW in France as the impact of the current heat wave is factored in, and a slowdown ahead of the holiday on June 5 immediately following the weekend is already being felt.
* Power curve prices were down along with weaker oil, carbon, coal and gas prices.
* The German Cal ’18 baseload benchmark was 1.5 percent down at 30.3 euros, having hit a twelve week-high in the previous session.
* The equivalent French contract was 1.1 percent down at 36 euros/MWh, also down from a previous three-month high.
* North Europe coal for 2018 delivery shed 0.9 percent at $67.4 a tonne
* Dec’ 17 expiry EU carbon lost 1.6 percent at 5.07 euros a tonne.
* In eastern Europe, the Czech day-ahead delivery contract did not trade after a 35.75 euros close. The year-ahead contract lost 1 percent to 30.95 euros/MWh.
* Bloomberg reported that Finland’s Fortum is in talks with German energy group E.ON about buying its 47 percent stake in Uniper, citing sources, and sending shares in Uniper sharply higher.($1 = 0.8912 euros) (Reporting by Vera Eckert; Editing by Mark Potter)
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