PRAGUE, Jan 29 (Reuters) - Central European day-ahead power
prices tumbled on Tuesday to levels normally seen on weekends
and holidays due to strong wind generation and forecasts for
unseasonably warm weather, traders said.
On regional exchanges Czech and Slovak electricity for
Wednesday fell 22 percent to 27.63 euros ($37.19) per megawatt
hour, while Hungary spot plummeted 37 percent to 30.51 euros.
In the over-the-counter market, Czech power fell to 29
euros, about a 1.50 euro premium over German levels. Hungarian
day-ahead remained well above its regional peers at 52 euros. A
big disparity between prices Hungary's OTC and exchange markets
is not unusual.
'The wind is huge tomorrow and the weather is warmer,' one
Data from Thomson Reuters Point Carbon showed forecasts for
wind generation in Germany surging above 18 GW.
Temperatures were expected to climb near 10 degrees Celsius
on Wednesday before gradually returning to more typical wintry
Further along the curve, the Czech Cal '14 fell 35 cents to
40.60 euros, giving up strong gains from a day earlier and
falling back towards the contract's all-time low of 40.55 euros.
The long-term Czech contract has hit numerous record lows in
recent weeks due to weak fuels and low spot prices, which have
pulled down the curve.
Around the region, the benchmark German Cal '14 contract
fell 44 cents to 41 euros on Germany's EEX exchange in afternoon
Serbian water levels were expected to remain flat on all
rivers except the Danube and Morava where they are rising
through Feb. 5, Serbia's hydrometeorological service said in a
Data from Poland's grid operator showed utilities would have
2.3 gigawatts of power offline for planned maintenance on
Thursday. Day-ahead on Poland's POLPX fell to
146.58 zlotys ($46.99) from 150.62 zlotys.
Brent crude oil held above $113 as traders awaited data to
gauge the strength of the economies of the United States and
China, the world's largest oil consumers.
The benchmark EU carbon contract, EU Allowances for December
delivery, fell nearly 3 percent to 4.07 euros a tonne
in afternoon trade.
($1 = 0.7429 euros)
($1 = 3.1194 Polish zlotys)
(Reporting by Michael Kahn; Editing by Jane Baird)
Keywords: MARKETS CEE/ELECTRICITY
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