Europe Power-Spot rises on low nuclear power

* French nuclear power availability low for time of year
* Short-covering, high coal prices push Cal'13 contracts
higher

PARIS, May 29 (Reuters) - European electricity prices rose
across the board on Tuesday, with spot contracts driven higher
by low nuclear energy availability in France and forwards pushed
by stronger coal prices, traders said.
Wednesday delivery electricity contracts for baseload in the
over counter market rose by 5.50 euros per megawatt hour in
France and Germany to 48.00 euros/MWh and 46.00 euros/MWh,
respectively.
"This is because the French nuclear power availability is
particularly low for the time of year," one trader said. "Last
year we were 8,000 MW higher," he said.
According to a Reuters estimate, 24,650 MW or 38.97 percent
of France's nuclear production capacity is currently offline.
This puts the online availability at 38,610 MW or 61.03 percent.

Along the curve, prices rose on the back of higher coal
prices and as traders needed short-covering after a long wekend.
In Germany and France the 2013 delivery contract for
baseload rose by 65 cents to 49.55 euros/MWh and 50.50
euros/MWh, respectively.
Crude oil fell towards $106 a barrel on Tuesday as the euro
lingers near 2-year lows on renewed fears of eurozone debt
contagion, counterbalancing bullish sentiment from renewed fears
of Middle East supply disruptions.
A boom in unconventional natural gas over the next 20 years
could see the United States and others benefit from cheaper
energy while the importance of the Middle East declines, the
International Energy Agency (IEA) said on Tuesday.

(Reporting by Muriel Boselli; editing by William Hardy)