December 27, 2017 / 11:57 AM / a year ago

EUROPE POWER-Spot power prices lifted by increased consumption

PARIS, Dec 27 (Reuters) - European spot electricity prices for day-ahead delivery rose on Wednesday due to an expected increase in demand following the Christmas break, while contracts along the forward curve dipped on bearish weather forecasts.

* The German baseload electricity contract for Thursday delivery added 9 euros to 34 euros ($40.43) a megawatt-hour (MWh), compared with the price paid on Friday, the last trading day before Christmas.

* The French spot price for Thursday delivery gained 19 euros to 49 euros/MWh, compared with the price paid last Friday for Tuesday delivery.

* Electricity demand is forecast to rise by over 2 gigawatts (GW) day-on-day in Germany to 67.6 GW on Thursday, while the average temperature is expected to fall by 1.3 degrees Celsius, according to Thomson Reuters data.

* Power consumption is expected to rise by over 3 GW in France on Thursday to nearly 68 GW. The average temperature is forecast to fall by 2.3 degrees Celsius.

* On the supply side, German wind power availability is tipped to increase by 2.3 GW to 16.7 GW. In France, power production from wind turbines is expected to drop sharply by 5.5 GW to 3.6 GW.

* French nuclear power availability was stable at 88.78 percent of capacity.

* Along the forward curve, contracts dipped due to a mild weather outlook for early January, a trader said.

* “The January contract is down due to a quite bearish temperature forecast,” the trader said.

* Germany’s January delivery contract fell 4.12 percent, or 1.74 euros, to 40.50 euros/MWh. The equivalent French January price slipped over 1 percent to 59 euros/MWh.

* The German year-ahead Cal’18 contract, the European benchmark, fell 1.29 percent to 37.60 euros/MWh.

* The French year-ahead contract was untraded.

* Carbon emissions rights for December 2017 expiry were flat at 8.19 euros a tonne. ($1 = 0.8410 euros) (Reporting by Bate Felix; Editing by Mark Potter)

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