June 4, 2018 / 10:58 AM / 3 months ago

EUROPE POWER-Curve supported by fuels and carbon, demand lifts day-ahead prices

PARIS, June 4 (Reuters) - European forward electricity contracts firmed on Monday, tracking higher coal, gas and carbon emission prices, while day-ahead delivery prices rose on the back of an expected increase in demand.

* The German Cal’19 baseload power price for 2019 delivery , the European benchmark, gained nearly 2 percent to 41.15 euros ($48.25) a megawatt-hour (MWh).

* The equivalent French contract rose 2.3 percent to 45.90 euros/MWh.

* European carbon for December 2018 expiry, which power generation operators must hold for their carbon emissions, was up over 2 percent at 15.60 euros a tonne.

* Benchmark European AP12 coal for 2019 added 2.5 percent to $89 a tonne, nearing a recent contract high of $90.35 reached on May 15.

* Coal and carbon emission prices, which drive the coal-reliant German electricity market, have posted strong gains in recent weeks on tight Asian demand and shortage of carbon permits, pushing the forward power curve to record levels.

* In the day-ahead market, Tuesday delivery prices were supported by firm power demand, a trader said.

* The German baseload contract for Tuesday delivery rose by 1.75 euros to 50.25 euros/MWh compared with the price paid on Friday for Monday delivery.

* The French equivalent contract for Tuesday delivery gained 5 euros to 50 euros/MWh, compared with the Monday delivery price paid on Friday.

* French electricity demand is expected to rise by 1.3 gigawatts (GW) day-on-day on Tuesday to 46.8 GW, according to Thomson Reuters data.

* A forecast by French grid operator RTE showed peak electricity demand in France will hover around 54 GW during the week, with average temperatures slightly above seasonal levels.

* In Germany, consumption will increase by 1.4 GW to 62.3 GW, the data showed.

* On the supply side, German solar power production will rise by around 1.7 GW to 9.7 GW day-on-day, one forecast showed, while wind electricity generation will increase by around 1 GW to 6 GW.

* French available nuclear capacity, which accounts for over 75 percent of its electricity needs, fell to 71.2 percent of capacity from 71.8 percent on Friday following an unplanned outage at EDF’s 1.3 GW Nogent 2 nuclear reactor early on Monday.

* In eastern Europe, the Czech Tuesday contract rose 5.7 percent to 50.75 euros/MWh, while the Czech Cal’19 slipped 25 cents to 42.55 euros/MWh. ($1 = 0.8529 euros) (Reporting by Bate Felix; Editing by Mark Potter)

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