Paris — European spot electricity prices for day-ahead delivery rose on Monday, buoyed by forecasts showing a fall in renewables, wind and solar power generation in Germany and a sharp rise in demand due to cold weather.
* Germany’s over-the-counter baseload contract for Tuesday delivery gained 9.3% to 42.10 euros ($47.13) a megawatt hour (MWh) compared with the price paid on Friday for Monday delivery.
* French baseload contract for Tuesday delivery added 0.6% to 36.50 euros/MWh compared with price paid on Friday for Monday delivery.
* Electricity generation from German wind turbines is expected to plunge by over 7 gigawatts (GW) to 6.4 GW on Tuesday, according to Refinitiv Eikon data.
* Solar power supply in Germany will dip by 1.1 GW on Tuesday to 5.2 GW, the data showed.
* Germany’s 1,430 MW Grohnde reactor operated by PreussenElektra was ramping up on Monday after an outage that began on April 21, the operator confirmed.
* Another two out of Germany’s seven reactors with 2,750 MW of capacity are still down this week, of which RWE’s Gundremmingen C is earmarked to return to the grid on Friday while Emsland will remain shut until late June.
* In France, wind power supply will increase by nearly 1 GW to 3.8 GW, while solar generation will slip by 130 megawatts (MW) to 1.3 GW.
* French nuclear power availability dipped by 0.6 percentage points to 72.49% of total capacity compared with Friday level.
* On the demand side, German consumption is expected to rise by 1.7 GW to 62.4 GW day-on-day on Tuesday. The average temperature is forecast to fall by 2.6 degrees Celsius.
* French power demand will climb by 2.3 GW on Tuesday to 48.7 GW, the Refinitiv data showed. Average temperature in France will by 2.1 degrees Celsius.
* A forecast by French power grid operator RTE showed on Monday that the weather is expected to be colder this week, with temperatures falling around two to three degrees below seasonal level, boosting power demand.
* Along the power curve, Germany’s Cal’20 year-ahead baseload , the European benchmark, lost 0.2% to 48.10 euros/MWh.
* The French equivalent for 2020 delivery was untraded at its 51.50 euros close.
* European December 2019 expiry CO2 emissions permits was flat at 25.47 euros a tonne by 1006 GMT.
* Hard coal for northern European delivery in 2020 was untraded at its $67.10 a tonne close.