November 15, 2018 / 12:17 PM / a month ago

EUROPE POWER-German prompt tumbles on forecast rise in wind output

PARIS, Nov 15 (Reuters) - German spot electricity contracts for day-ahead delivery fell on Thursday on a forecast rise in wind power generation and lower demand, while the year-ahead position slipped, tracking the fall in carbon emissions permit prices.

* The German baseload power price for Friday delivery was down 9.1 percent at 58 euros ($65.61) a megawatt hour (MWh).

* Wind electricity generation in Germany will rise by 3.1 gigawatts (GW) day-on-day on Friday to 10.1 GW, data from Refinitiv Eikon showed.

* German power demand is expected to decrease by 1 GW as consumption ebbs ahead of the weekend, the data showed.

* The equivalent French day-ahead delivery rose 1 percent to 67.50 euros/MWh.

* The French contract was supported by a forecast increase in demand due to cold weather, a trader said.

* French power consumption will rise on Friday by 710 megawatts (MW) to 57.7 GW. Average temperature in France will fall by 1.3 degrees Celsius during the period, Refinitiv Eikon data showed.

* French wind power supply will fall by 400 MW to 2 GW, while nuclear power availability has risen 2 percentage points to 74 percent of maximum capacity.

* French power grid operator RTE said on Thursday the country had enough power supply for the winter but needed to be vigilant if there was a cold spell from mid-January through to the end of February, when supply is expected to be tight due to nuclear outages.

* Along the year-ahead power curve, prices fell, tracking carbon emissions prices.

* European December 2018 expiry CO2 allowances tumbled 4.9 percent to 18.75 euros a tonne.

* The German baseload contract for 2019 delivery, the European benchmark, was down 0.7 percent at 51.70 euros/MWh.

* The equivalent French Cal’19 contract slipped 0.5 percent to 57 euros/MWh.

* European delivery API2 coal for 2019 gained 1.8 percent to $87.35 a tonne.

* In eastern Europe, the Czech spot for Friday delivery , which mirrors the German position, fell 11.2 percent to 57.70 euros/MWh. The year-ahead baseload lost 2 percent to 53.60 euros/MWh. ($1 = 0.8840 euros) (Reporting by Bate Felix; Editing by Mark Potter)

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