August 25, 2017 / 1:14 PM / a year ago

EUROPE POWER-Spot price rises on forecast jump in French demand

PARIS, Aug 25 (Reuters) - European spot electricity prices for delivery early next week surged on Friday, supported by an expected rise in French consumption coupled with a fall in German wind power supply.

* The baseload German spot electricity price for Monday delivery gained 2.75 euros to 39.75 euros per megawatt hour (MWh), up more than 7 percent on the price paid on Thursday for Friday delivery.

* The equivalent French contract added 3 euros, or 7.7 percent, to 41.75 euros/MWh.

* French electricity demand is forecast to jump on Monday by more than 2 gigawatts (GW) from Friday’s consumption levels to 47.3 GW, Thomson Reuters data shows.

* Average temperature in France are forecast to rise by 2.6 degrees Celsius on Monday.

* In Germany, electricity production from wind turbines is expected to fall by 2.1 gigawatts (GW) to 1.4 GW, providing support for the spot price despite a slight decline in consumption by 460 megawatts to 66.5 GW.

* The average temperature in Germany is expected to fall by 2.1 degrees Celsius.

* Nuclear power availability in France, which accounts for more than 75 percent of the country’s electricity needs, rose slightly to 67.75 percent of capacity on Friday after the restart of EDF’s 1,500 MW Chooz 1 reactor and an outage at its 900 MW Dampierre 3 reactor.

* Prices rose on the forward curve, boosted by carbon and coal prices that hit a nine-month high.

* The German Cal ‘18 baseload power contract for 2018 delivery gained 0.6 percent to 33.55 euros/MWh. The equivalent French contract, which risen in recent days on worries over French power supply during winter, rose 0.87 percent to 40.35 euros/MWh.

* Coal cif Europe 2018 continued its recent rally, rising by 0.7 percent to $78.60 a tonne, its highest since last November. December 2017 expiry EU carbon allowances were up 1.5 percent at 6.04 euros a tonne.

* In eastern Europe, Czech spot power for Monday, which mirrors the German spot price, added 3 euros to 40.50 euros/MWh while year-ahead power added 35 cents to 34.20 euros/MWh. (Reporting by Bate Felix; Editing by David Goodman)

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