April 5, 2012 / 6:05 PM / in 6 years

Europe Power-Prices fall ahead of Easter holiday

FRANKFURT/PARIS, April 5 (Reuters) - European power prices
for delivery on Tuesday, the next full working day after the
long Easter weekend, fell on Thursday.	
    Sluggish post-holiday activity was expected to curb
industrial demand while wind power supply was forecast to be
comfortable on Tuesday.	
    Businesses across Germany will be closed on April 6 and
April 9 for the Easter holidays while France will observe a bank
holiday only on Monday.	
    Week ahead and month ahead positions firmed in both
countries, reflecting a cool weather trend and the absence of
some nuclear reactors in Germany and France, traders said.
    Two small fires broke out at EDF's Penly 2 reactor at 1020
GMT, prompting the reactor to stop automatically stop. The fires
were put out by the fire service by 1115 GMT. 	
    Baseload power for the coming Tuesday in Germany was 5.50
euros down at 44.50 euros a megawatt hour compared with
the price paid for Thursday. The same contract in France fell by
3.40 euros to 45.50 euros.	
    Some 22 percent of nuclear availability is currently offline
but this will rise to 33 percent once E.ON's Grohnde closes for
a two-week maintenance period.  	
    Temperatures by Sunday will likely decrease to 4 to 10
degrees Celsius after 6 to 15 degrees on Thursday, met office
DWD said.    	
    Power forwards prices nudged a little higher as carbon, gas
and oil staged recoveries and coal trended sideways. 	
    EU carbon rights for Dec '12 were priced at 6.45 euros a
tonne, up 3.9 percent at 1234 GMT, having hit a
contract low of 5.99 euros on Wednesday. 	
    The CO2 market has been hit by falling equity and energy
prices and amid more downside risks for the euro zone economy
while supply side intervention from policymakers does not look
likely, according to a research note from Deutsche Bank.	
    German Cal '13 baseload power was 10 cents up at 51.40 euros
 while the French contract rose by 20 cents to 52.10
 (Reporting by Vera Eckert and Muriel Boselli; Editing by
Anthony Barker)
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