German spot power price slips on increased wind output
European spot electricity prices for day-ahead delivery fell on Monday on the back of a forecast sharp increase in German wind power production and strong energy output from conventional sources in France. * German baseload power contract for Tuesday delivery fell 2.6 euros or 6.8 percent to 35.40 euros ($41.19) per megawatt-hour (MWh) compared with the price paid on Friday for Monday delivery. * The French spot contract for Tuesday delivery dipped 2.25 euros to 35.75 euros/MWh, compared with the Monday delivery price. * Electricity production from German wind turbines is forecast to jump by 8.4 gigawatts (GW) on Tuesday to over 12 GW, according to data. German solar wind output will fall by 1.4 GW to 2.7 GW during the same period. * In France, three nuclear reactors that were expected to restart production over the weekend were delayed until later this week, while two other reactors; EDF's Gravelines 1 and Fessenheim 1 reactors, of 900 MW capacity each, were halted for scheduled maintenance. * The restart delay and outages have cut available French nuclear capacity to 67.44 from 70.28 percent on Friday, however, residual load in France is expected to rise by 1.2 GW to 41.6 GW, data showed. * On the demand side, consumption in Germany will increase by 1.4 GW to 67.4 GW on Tuesday. In France, electricity consumption will rise by nearly 500 megawatts to 46 GW, Reuters data showed. * Along the forward curve, the German benchmark power contract for 2018 fell 29 cents or 0.92 percent to 31.26 euros/MWh. * The less liquid French contract was untraded from its Friday close of 37.40 euros/MWh. * Dec '17 expiry EU carbon emissions rights added 0.39 percent to 5.11 euros a tonne, while coal cif North Europe was untraded. * In eastern Europe, the Czech Monday contract tumbled 13.76 percent to 43.75 euros/MWh compared with Friday's close. The Czech year-ahead contract was untraded with a bid/ask price of 31.85/32.10 euros/MWh.
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