PARIS, Aug 5 (Reuters) - European spot power prices were
mixed on Monday, with German prompt rising on forecasts for
warmer weather, while temperatures were set to drop in France,
weighing on consumption.
The German baseload power price for Tuesday delivery was up 3 euros to 41 euros ($54.28) a megawatt-hour
(MWh). The equivalent French contract fell 2 euros to
37.25 euros per MWh.
'It's driven by different temperature forecasts for France
and Germany,' a trader said.
German temperatures were set to rise by almost one degree
Celsius on average between Monday and Tuesday to 24.4 degrees,
Thomson Reuters Point Carbon data showed, boosting power demand
by about 2 GW.
Temperatures in France on the other hand were expected to
fall by 1.2 degrees, broadly to seasonal averages for the rest
of the week at around 21 degrees, French power grid RTE data
Higher temperatures boost demand for power intensive
air-conditioning in the summer, with that effect being felt from
about 18 degrees in France, according to RTE.
German wind power production was expected to rise by 970 MW
to 2 GW on Tuesday, while solar electricity output was seen
falling by 680 MW to 6.7 GW.
French nuclear power availability fell by more than 5 points
over the weekend to 71 percent, with planned outages starting at
EDF's Belleville 2, Cruas 3, Gravelines 3 and Tricastin
1, taking about 4 GW offline.
The 900-MW Chinon B 2 nuclear reactor also stopped in an
unplanned outage on Monday, but was expected to return online on
Tuesday, according to RTE.
French hydropower reserves provided some support to French
supply, having risen to 82 percent this week, a three-year high
for this time of the year, RTE data showed.
Along the forward curve, German year-ahead power prices
remained near the eight-year lows hit last week, with lower coal
and oil prices weighing and following a downward trend that
started in 2011, depressed by low electricity demand and booming
The German Cal' 14 last stood at 36.50 euros per MWh,
unchanged from Friday, having dropped to as low as 36.20 euros a
MWh earlier on Monday, levels not seen since March 31, 2005.
The equivalent French contract for 2014 delivery was 32
cents lower, at 41.75 euros.
Brent crude oil fell on news of rebounding production in
Libya and the North Sea and disappointing euro zone data showing
an across-the-board drop in retail sales for the first time in
($1 = 0.7553 euros)
(Reporting by Michel Rose; editing by James Jukwey)
(Click on the following for information about European cash power prices, outages and interconnector maintenance. FRANCE: baseload prices, peak outages report GERMANY: baseload prices, peak outages, report UK: outages report SWITZERLAND: outages, reservoir levels NORDIC: report EU CARBON PRICES Interconnector maintenance diary: (Xtra clients: Click on http://topnews.session.rservices.com to see Top News pages in multimedia Web format.)) Keywords: MARKETS EUROPE ELECTRICITY/)
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