Spot Prices Firm On Drop In Renewables Generation

Spot Prices Firm On Drop In Renewables Generation

European spot electricity prices for delivery early next week rose on Friday on the back of a forecast fall in power generation from wind and solar sources.

* The German baseload electricity price for Monday delivery jumped by 5.20 euros to 37.25 euros per megawatt-hour (MWh), up 16.4 percent from Thursday’s price for Friday delivery.

* The equivalent French contract for Monday gained 5.75 euros to 39.25 euros/MWh for a rise of more than 17 percent.

* Electricity production from German wind turbines is forecast to fall by nearly 10 gigawatts (GW) on Monday to 5.2 GW, Thomson Reuters data shows. Solar power generation is expected to decline by 1.6 GW to 4.5 GW.

* French wind power output is expected to fall by 1.6 GW to 1.8 GW on Monday.

* French nuclear power availability, which accounts for more than 75 percent of electricity needs, fell to 64 percent of capacity from 66 percent after an outage at EDF’s 900 MW Chinon 2 reactor. The planned restart of its 1,300 MW Flamanville 1 reactor on Friday was delayed until July 4.

* Electricity demand is expected to fall marginally in both countries on Monday. German consumption is forecast to decline by 740 megawatts (MW) from Friday to 68.1 GW, with French demand down by 860 MW at 46 GW.

* Along the forward curve, prices were mixed as the German Cal ’18 benchmark posted a slight gain, up 0.16 percent at 30.70 euros/MWh as oil rose.

* The equivalent French contract slipped 0.41 percent to 36.65 euros/MWh.

* Coal cif North Europe fell 0.14 percent to $69.80 a tonne.

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* The December-expiry EU carbon contract dipped 0.59 percent to 5.04 euros a tonne.

* In East Europe, the Czech contract for Monday was untraded, while the day-ahead contract fell 5.5 euros to 30.50 euros/MWh. The year-ahead contract was untraded from its Thursday close at 31.55 euros/MWh. (Reporting by Bate Felix; Editing by David Goodman)

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