European spot power prices ease on higher wind generation
http://www.chemnet.com Jun 13,2018 plattsDay-ahead power prices in Europe were bearish Tuesday on forecast higher wind generation, with early-settling Swiss spot prices already providing direction, closing around Eur2/MWh lower on the day.
Wind generation with increases in most of Europe
Two German reactors to return Wednesday evening
Curve prices rise as coal, gas see gains
German OTC day-ahead baseload was seen at Eur47.70/MWh, down 60 euro cent, while peakload power stood at Eur51.50/MWh, down almost Eur2.
French Wednesday baseload was around Eur2 lower for base and peak at Eur46.50/MWh and Eur53.35/MWh in the over-the-counter market. French power demand eased to 53 GW Tuesday from 54 GW Monday, RTE data showed.
"Fundamentals in France are rather steady day on day, but the slightly bearish surrounding markets pull the day-ahead lower," a trader said.
German average solar and wind output for baseload hours Wednesday was set to rise 1.3 GW to 5.7 GW, while peak output was forecast to gain 1.1 GW to 18.3 GW on higher wind, according to a forecast by spotrenewables.
Wednesday evening will see the 1.3 GW Emsland A reactor and the 1.4 GW Philippsburg-2 reactor return, the EEX Transparency website showed.
Italian OTC day-ahead trades were lower again Tuesday, with wind output forecast to hit this week's peak on Wednesday at 3.4 GW, spotrenewables data showed, despite the rest of the Italian power curve nudging higher on the day.
OTC spot trades stood at Eur57.25/MWh at 10:11 am London time, according to EEX, down Eur1.50/MWh intraday and down from Monday's settled PUN for Tuesday of Eur59.16/MWh, GME data showed.
European curve prices gained Tuesday morning amid higher generating fuel prices. German year-ahead power rose around 50 euro cent to Eur41.50/MWh.
EU carbon allowances stood at Eur15.10/mt, nearly 40 euro cent/mt lower, but European front-year coal was nearly $1/mt higher on the day, lifting forward power contracts together with firmer gas.