December 14, 2016 / 8:14 AM / a year ago

German prompt power price down early on more renewable supply

FRANKFURT (Reuters) - Changing renewable supply patterns on Wednesday weighed on German spot power contracts in the wholesale market, with day-ahead baseload down 29 percent and the peakload price for Thursday down 27 percent.

Baseload was at 45.75 euros ($48.71) a megawatt hour (MWh) and peak at 53.85 euros.

Wind output is forecast to reach 4 to 5 gigawatts (GW) on Thursday from very depressed levels of 2.2 GW recorded for Wednesday, according to Thomson Reuters data. Solar power in one scenario was seen rising to 2 GW from 1.3 GW in the same period.

Traders said the prices could have fallen further were it not for exports, including to France where nuclear supply is tight.

French day ahead power at 0800 GMT had not traded but was indicated in a 63.5 to 67 euros bid-ask range after closing at 67 euros the night before.

The market received news overnight that the Cattenom 4 reactor, which had been expected to restart on Wednesday, will be offline until Dec. 15.

Reporting by Vera Eckert; editing by David Clarke

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