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Energy

EUROPE POWER-Prompt prices fall on rising wind power

PARIS, Sept 22 (Reuters) - European prompt power prices tumbled on Tuesday as wind supply rebounded in France and Germany, and French nuclear availability remained steady.

* German over-the-counter baseload power for Wednesday was down 18.1% to 47.50 euros ($55.68) a megawatt hour (MWh) at 0915 GMT.

* The equivalent French day-ahead contract dropped 14.7% to 49.50 euros/MWh.

* Electricity generation from German wind turbines is expected to rise by 5.4 gigawatts (GW) day-on-day to 6.9 GW on Wednesday, Refinitiv Eikon data showed.

* French wind power supply is forecast to climb 3.1 GW to 3.9 GW, the data showed.

* French nuclear power availability remained at 57.4% of installed capacity.

* The increased wind power is somewhat offset by a decrease in solar power generation, and a slight increase in consumption, Refinitiv analysts said.

* German solar power generation is expected to fall 1.7 GW to 6.2 GW, the data showed.

* Power demand is expected to edge up 520 megawatts (MW) to 56.8 GW on Wednesday in Germany, and tick up 120 MW to 45.1 GW in France, the data showed.

* Further along the curve, Germany’s Cal ‘21 baseload , the European futures benchmark, ticked up 0.2% to 40.75 euros/MWh, rising with carbon permit and oil prices.

* The equivalent French year-ahead contract shed 0.5% to 46.50 euros/MWh, the lowest since Aug. 25.

* December 2020 expiry European CO2 allowances rose 1.1% to 26.69 euros a tonne.

* Hard coal for northern European delivery in 2021 slipped 0.1% to $57.70 a tonne.

* Fewer sectors will be eligible for state compensation for carbon costs incurred through higher power prices next year, the European Commission said on Monday, with the number of sectors eligible for compensation dropping to ten in 2021. ($1 = 0.8522 euros) (Reporting by Forrest Crellin; editing by Mark Potter)

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