PARIS, July 4 (Reuters) - European spot power prices fell on
Thursday as consumption was forecast to drop in both Germany and
France helped by milder and sunnier weather ahead of the
German baseload supply for Friday was down 4.7
euros at 36.2 euros ($46.75) per megawatt-hour (MWh), while the
equivalent French contract fell 5 euros to 35 euros per MWh.
'In Germany consumption numbers are expected to drop
significantly for Friday,' Thomson Reuters Point Carbon analysts
said in a daily note, expecting power demand to fall by 1.2 GW.
'In France higher temperatures, lower cloud cover and the
end of week effect lead to a reduction of 0.7 GW,' they added.
Temperatures were set to rise slightly to 19.5 degrees
Celsius on average across Germany and were expected up 1.1
degree in France at 21.3 degrees.
On the supply side, wind and solar power output were
expected to edge up in Germany.
Along the forward curve, German power for delivery in 2014
fell 15 cents on the day to 38.1 euros per MWh, and
the equivalent French contract was down 20 cents at 42.2 euros.
Oil slipped from a two-week high above $106 a barrel after
Egypt's armed forces toppled its president, easing concerns over
the threat of supply disruption in the Middle East.
($1 = 0.7744 euros)
(Reporting by Michel Rose; Editing by Theodore d'Afflisio)
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