August 24, 2017 / 10:21 AM / a year ago

EUROPE POWER-Expected fall in wind, nuclear output lifts spot power

PARIS, Aug 24 (Reuters) - European spot electricity prices for day-ahead delivery rose on Thursday, buoyed by a forecast for a fall in German wind power supply and tight nuclear availability in France.

* The benchmark German baseload contract for Friday delivery rose 2.05 euros or 5.7 percent to 37.75 euros a megawatt-hour (MWh).

* The equivalent French contract gained 1.93 euros or 5.2 percent to 38.75 euros/MWh.

* Electricity production from German wind turbines will fall by 3.7 gigawatts (GW) day-on-day on Friday to 3.6 GW, according to Thomson Reuters data.

* Nuclear power availability in France, which accounts for over 75 percent of the country's electricity needs, fell to 66.80 percent of capacity on Thursday, from 69.49 percent the previous day following an unplanned outage at EDF's 1,500 MW Chooz 2 reactor.

* Power consumption in both countries will fall on Friday as businesses slow down for the weekend. German demand is forecast to decline by 1.3 GW on Friday to 67 GW. Consumption in France will fall by 40 megawatts, the data showed.

* Along the forward curve, prices diverged on Thursday as the German 2018 delivery contract made slight gains alongside coal and carbon, while the French contract eased slightly.

* Forward power prices were lifted in recent days after French nuclear regulator ASN asked utility EDF to review all components of its nuclear reactors that were made by Areva's Creusot Forge by the end of 2018. That prompted fears of prolonged reactor outages.

* EDF said on Thursday it had sent ASN reports which highlight previously unknown anomalies in the tracking documentation of nuclear plant components manufactured by Creusot Forge, but said the anomalies represented no safety risk.

* EDF added that there was no change in its nuclear output forecast for this year, no change in reactor availability, and confirmed its 390-400 terrawatt-hour 2017 nuclear production target announced at the end of July.

* The German Cal '18 baseload power contract for 2018 gained 0.3 percent to 33.40 euros/MWh. The equivalent French contract dipped 0.2 percent to 40.07 euros/MWh .

* Coal cif Europe 2018 rose 0.3 percent to $77.75 a tonne . December 2017 expiry EU carbon allowances were up 1.2 percent at 6.02 euros a tonne.

* In eastern Europe, Czech spot for Friday delivery gained 4.2 percent to 37.50 euros, while year-ahead power added 0.3 percent to 33.75 euros/MWh.($1 = 0.8467 euros) (Reporting by Bate Felix; Editing by Susan Fenton)

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