June 6, 2018 / 1:13 PM / 6 months ago

EUROPE POWER-Increased nuclear, low demand weighs on French spot

PARIS, June 6 (Reuters) - European spot electricity prices for day-ahead delivery dipped on Wednesday on the back of an expected fall in demand and increased nuclear availability in France, while curve prices fell in step with carbon emission and gas prices.

* The German baseload contract for Thursday delivery slipped nearly 1 percent to 51.50 euros ($60.58) a megawatt-hour (MWh).

* The French Thursday delivery position was at 52.25 euros/MWh, down 0.2 percent.

* “Increased wind and forecasts for cooler temperatures also weighed on near term contracts,” a trader said.

* The French power contract for week-ahead delivery fell 4.5 percent to 42.25 euros/MWh. The equivalent German Week 1 contract tumbled 6.5 percent to 41.60 euros/MWh.

* French electricity demand for Thursday is expected to slip by 140 megawatts (MW) to 46.4 gigawatts (GW), according to Thomson Reuters data.

* In Germany, consumption will rise by 500 MW to 62.8 GW, one forecast showed.

* On the supply side, France’s nuclear power availability, which accounts for over 75 percent of its electricity needs, rose by around 2 percentage points to 70.4 percent of capacity after the restart of EDF’s Nogent 2 reactor following an unplanned outage.

* Further along the power curve, year-ahead prices fell in tandem with carbon emission and gas prices, another trader said.

* The German year-ahead baseload power price for 2019 delivery , the European benchmark, was down 0.2 percent at 40.80 euros/MWh.

* The less liquid French equivalent contract dipped 0.7 percent to 45.65 euros/MWh, with little trade.

* European carbon for December 2018 expiry, which power generation operators must hold for their carbon emissions, fell 0.8 percent to 15.63 euros a tonne.

* Benchmark European AP12 coal for 2019 was flat at $87.85 a tonne.

* In eastern Europe, the Czech Wednesday position was untraded at its 42.75 euros/MWh close. The Czech year-ahead contract rose 0.3 percent to 42.90 euros/MWh. ($1 = 0.8501 euros) (Reporting by Bate Felix; Editing by Mark Potter)

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