December 1, 2017 / 8:16 AM / 16 days ago

French Monday power contract rises on prolonged cold spell

FRANKFURT, Dec 1 (Reuters) - French wholesale power prices for early next week rose on Friday on signs cold weather that has boosted demand for electric heating will continue.

The French baseload power delivery contract for Monday traded at 83 euros a megawatt hour (MWh), up 5.7 percent from the price paid for Friday delivery.

The tight conditions in France, where sharp temperatures falls have pushed daily demand above 70 gigawatt (GW) this week, were in contrast to forecasts for higher wind volumes in Germany, where prices for Monday were untraded but indicated lower.

Germany’s Monday price was in a bid-ask range of 33.25 to 36.25 euros after Friday delivery had closed at 65.55 euros.

Thomson Reuters data showed French consumption on Monday stable at a likely 74.2 GW and German wind power at 21 GW, six times the expected volume to be received on Friday. (Reporting by Vera Eckert; Editing by Mark Potter)

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