Home Europe & UK Sharp decline in wind and solar output lifts German spot
Sharp decline in wind and solar output lifts German spot

Sharp decline in wind and solar output lifts German spot

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European electricity prices for day-ahead delivery were mixed on Thursday as a forecast fall in power production from renewable wind and solar sources buoyed the German spot contract while a fall in demand pressured prices in France.
* The German baseload electricity contract for Friday delivery up 5 euros or 15.63 percent to 37 euros ($40.45) per megawatt-hour (MWh).
* The French day-ahead price for Friday down 9.51 percent to 39 euros/MWh.
* German wind power production expected to fall by 9 gigawatts (GW) day-on-day on Friday to 7.1 GW, Thomson Reuters data shows. Power production from German solar PV panels to fall by more than 1 GW to 3.2 GW.
* A 1.2 GW fall forecast in German electricity consumption on Friday to 67.2 GW was not enough to dampen the bullish run.
* In France, electricity demand is seen falling by 1.4 GW to 52.7 GW on Friday as the average temperature is expected to rise by 1.5 degrees Celsius.
* On the supply side, power production from French wind turbines will rise by over 1 GW to 3 GW. Solar generation will increase by 380 megawatts to 1.5 GW on Friday.
* French nuclear power generation, which accounts for over 75 percent of French electricity needs, is seen stable at 74 percent of capacity, while coal-fired generation will rise slightly, adding bearish pressure.
* Along the power forward curve, prices slipped alongside fuels. The German Cal ’18 benchmark fell 0.85 percent to 29.05 euros/MWh as coal, carbon, oil and gas fell.
* The equivalent French power contract was down 0.56 percent at 35.50 euros/MWh.
* Dec’ 17 expiry EU carbon fell 1.59 percent to 4.33 euros a tonne, while coal prices cif North Europe for 2018 slipped 0.76 percent to $65.30 a tonne.
* Oil prices fell for the fourth day in a row on Thursday, nearing their lowest level since late March after data showed a lower than expected decline in U.S. inventories.
* In eastern Europe, the Czech day-ahead contract, which mirrors the German spot, rose 18.02 percent to 37 euros/MWh , while the year-ahead contract fell 1.18 percent to 29.30 euros/MWh. ($1 = 0.9147 euros) (Reporting by Bate Felix; editing by Jason Neely)

Source:Reuters
Anand Gupta Editor - EQ Int'l Media Network

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