June 15, 2018 / 11:30 AM / 10 months ago

EUROPE POWER-More supply weighs on Monday delivery, curve tracks carbon falls

FRANKFURT, June 15 (Reuters) - Forecasts for more wind and conventional power supply weighed down prompt wholesale prices in Europe on Friday, while forwards eased along with losses in carbon emissions rights.

* Nuclear availability has increased greatly, traders said, citing the return to the grid of the German Emsland and Philippsburg 2 reactors on Thursday after their respective maintenance periods ended.

* German baseload for Monday delivery fell 9.8 percent, compared with the price paid for Friday, to trade at 44.75 euros ($51.84) a megawatt hour (MWh).

* The same French Monday delivery price fell 12.7 percent to 43.75 euros/MWh.

* On the supply side, production from German wind turbines is expected to more than triple to 7.3 gigawatts (GW) on Monday compared with the anticipated level for Friday of 2 GW, according to one forecast published by Thomson Reuters.

* Also, power station operators in Germany and Austria are set to raise thermal capacity availability by 0.2 percent in the seven-day period up to June 22, data from the EEX bourse showed.

* However, French nuclear power availability remains at a low 69 percent of capacity.

* Combined electricity demand in both countries will drop by 800 MW on Monday to 106.3 GW compared with the Friday level.

* Temperatures are due to rise by 2-3 degrees Celsius on average next week.

* Power forwards tracked losses in related coal and carbon emissions prices, which are input factors for generators especially in coal-biased Germany.

* Germany’s Cal’19 baseload edged 0.5 percent down to 47.7 euros/MWh.

* The contract’s French equivalent did not trade, having closed at 46.9 euros in the previous session.

* Benchmark European AP12 coal for 2019 was down 0.1 percent at $89 a tonne.

* European carbon permits for December 2018 expiry dropped by 2.4 percent to 14.56 euros a tonne.

* Traders cited less coal burning vis-a-vis gas due to relatively high coal prices, which they said reduces some of the usual volumes of CO2 permit buying to cover generation schedules of coal plants.

* They also said CO2 prices were in an unsurprising correction mode after recent rallies.

* In eastern Europe, the Czech Monday contract was untraded after Friday’s close at 49.75 euros. Czech year-ahead power was down 1.5 percent at 43.1 euros. ($1 = 0.8632 euros) (Reporting by Vera Eckert; Editing by Mark Potter)

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