FRANKFURT, June 18 (Reuters) - European spot power prices on Monday rose on predictions of sharp day-on-day increases in consumption, driven by rising temperatures in the region.
* “There is more air conditioner demand as it gets hotter and Germany’s renewable supply is modest,” one trader said. He also said thermal supply was capping price gains and two German nuclear reactors had rejoined the grid last week after maintenance.
* German baseload power for Tuesday delivery increased by 2.9 percent over the price paid for Monday at 46.50 euros ($53.97) a megawatt hour (MWh).
* The same French Tuesday delivery price jumped 9.7 percent to 48.30 euros.
* Demand in Germany is due to rise by 1.6 gigawatts (GW) day-on-day to 52.4 GW on Tuesday and France is due to add 1.3 GW to 47.1 GW in the same period, according to Thomson Reuters data.
* German met office DWD said that Wednesday would be the hottest day of the week, with daytimes temperatures anywhere except in the north ranging between 27 and 32 degrees, and followed by a dip in the second half of the week.
* However, the general trend over the next fortnight is for temperatures to likely rise by 1-3 degrees Celsius on average in the two power markets.
* On the supply side, daily production from German wind turbines is expected to remain around 7.5 GW and solar at 6.2 GW on Tuesday.
* French nuclear power availability stands at 70.44 percent of the available total. Le Bugey 4 and Cruas 2 reactors reported some load reductions early on Monday.
* Power forwards tracked gains in carbon emissions prices and sideways coal prices, which are important input factors for generators in coal-biased Germany, while global oil steadied after earlier losses.
* Germany’s Cal’19 baseload added 0.4 percent to 41.75 euros/MWh and the contract’s French equivalent rose 1.2 percent to 46.75 euros.
* Benchmark European AP12 coal for 2019 was broadly unchanged at $88.55 a tonne.
* European carbon permits for December 2018 expiry increased 1.6 percent to 14.76 euros a tonne. Traders said the market was regaining momentum after a recent correction.
* In eastern Europe, the Czech Tuesday contract was untraded after Monday closed at 49 euros. Czech year-ahead power edged 0.1 percent down to 43.05 euros. ($1 = 0.8615 euros) (Reporting by Vera Eckert Editing by Edmund Blair)