August 23, 2012 / 3:41 PM / 8 years ago

Europe Power-Lower renewable, French nuclear delays support spot

* German solar, wind power output fall
    * Six delayed restart dates at French nuclear reactors

    PARIS, Aug 23 (Reuters) - Lower renewable power output in
Germany pushed spot prices higher on Thursday, while more
delayed restart dates at French nuclear reactors weighed further
on short-term supply expectations.
    Germany's Friday delivery baseload for 24-hour power
was up by 1.45 euros day-on-day to 54 euros ($67.32) per
megawatt hour.
    "In Germany, the renewable production is expected lower,
down 1,100 MWh/h and 2,100 MWh/h (in) wind and solar
respectively," Thomson Reuters Point Carbon analysts wrote on
    The day-ahead French contract was off 38 cents to
52.05 euros. However, the French week-ahead and September
contracts were up 1.88 euros and 85 cents respectively, as
French grid operator RTE said EDF had delayed planned
returns to the grid for six nuclear reactors.
    Cattenom 3 (1,300 MW) will be restarted on Sept. 5, 13 days
later than previously planned, while Tricastin 3 (915 MW) is now
expected to come back online on Sept. 1, two days later than
initially planned.
    Chooz B2 (1,500 MW), Paluel 3 (1,330 MW), Cruas 4 (900 MW) 
and Bugey 3 (910 MW) were also expected to be brought back to
the grid later than planned, keeping French nuclear availability
at a low 68.8 percent. 
    EDF said maintenance work was taking longer than expected on
some reactors, in a heavy care year for the French fleet.
    On the demand side, consumption in both France and German
was expected to be stable from the day before, with temperatures
off the early week highs.
    Along the power forwards curve, Germany's benchmark 2013
contract for baseload delivery next year rose 25 cents
to 50 euros. The equivalent French contract was down 10 cents to
51.65 euros
    Oil prices rose by more than a dollar on Thursday to top
$116 a barrel on renewed hopes for a third round of monetary
stimulus by the U.S. Federal Reserve despite weak economic data
from China. 
($1 = 0.8021 euros)

 (Reporting by Michel Rose; editing by James Jukwey)
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