Frankfurt — European spot power prices for the day-ahead rose sharply on Monday as previously ample German wind power supply was forecast to contract by nearly half by Tuesday while demand increased.
* German over-the-counter baseload power for Tuesday traded at 40.5 euros ($44.23) a megawatt hour (MWh) by 1050 GMT, a rise of 78% from Monday delivery.
* The equivalent French contract for Tuesday was up 2% at 38.5 euros/MWh.
* German wind power supply is expected to be 17.4 gigawatts (GW) on Tuesday, down from 34.6 GW recorded on Monday, and falling successively over the working week, Eikon data showed.
* Power demand in the day-on-day period will gain 1.8 GW in Germany to 65.6 GW on Tuesday, and rise 2 GW in France to 48.3 GW.
* French nuclear supply availability stood at 67.9% of the maximum, 0.9 percentage points higher than on Friday.
* Forward power prices were mixed after price falls in related fuels and carbon markets brought them down to three-week lows last Friday.
* German 2020 delivery baseload was 0.1% down at 48 euros/MWh.
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* The same French contract was 0.3% higher at 51 euros/MWh.
* European CO2 permits for December 2019 lost 0.6% to 25.14 euros a tonne.
* Hard coal for northern European delivery in 2020 decreased by 0.7% to $66.7 a tonne.
* In eastern Europe, Czech Tuesday baseload was untraded after Monday settled at 35.5 euros/MWh. Year-ahead baseload shed 0.3% to 51 euros.
* France’s state-controlled utility EDF announced plans to shut down the Number 1 nuclear reactor of its Fessenheim plant on Feb. 22, 2020 and adjacent Number 2 on June 30.
* German utility RWE at a press conference said it has a renewable project pipeline of more than 18 gigawatts and confirmed it could pour up to 3 billion euros a year into green energy sources.
* Banking on gas as a transitional fuel in Germany, RWE is also pursuing an LNG terminal project as a shipper, where the operating company said on Monday it has picked four prequalified potential construction firms. ($1 = 0.9158 euros)
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– Reuters
