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EUROPE POWER-Spot lifted by smaller German wind forecast

PARIS, Jan 7 (Reuters) - European prompt power prices rose on Thursday on tighter German wind supply and increased French demand.

* German baseload power for Friday added 11.1% to 77.50 euros per megawatt hour (MWh) by 1035 GMT.

* The equivalent French contract was up 6.6% at 84.50 euros/MWh, after reaching the highest since Nov. 26, 2018 at 85 euros/MWh earlier in the trading session.

* German wind power is set to shed 1.2 gigawatts (GW) on Friday to 6.2 GW, while supply from wind turbines in France is expected to edge up 180 megawatts (MW) to 1.1 GW, Refinitiv Eikon data showed.

* In Germany, there are marginal improvements in thermal availability reported for tomorrow, while the French fundamentals evolve in a clearly bullish way from today, Refinitiv analysts said.

* French nuclear availability remained at 85.7% of installed capacity.

* France’s CGT union will call for strikes at French power groups EDF and Engie on Jan. 14 and Jan. 19 if reorganisation plans are not withdrawn by next Wednesday, the union said on Thursday.

* Unions have already issued a joint call for strike action at EDF on Jan. 19 over planned reforms.

* On the demand side, German consumption is expected to shed 760 MW to 63.2 GW on Friday.

* French consumption is expected to edge up by 920 MW to 81.3 GW, the data showed.

* Along the curve, year-ahead prices rose with higher carbon permits and oil and gas prices.

* German Cal ‘22 baseload power was up 1.4% at 50.60 euros/MWh on Thursday.

* French 2022 supply rose 1.6% to 52.10 euros/MWh.

* December 2021 expiry European CO2 allowances gained nearly 2% to 34.30 euros a tonne, after hitting a record high of 34.45 earlier in the session.

* Hard coal for northern European delivery in 2022 remained untraded at $69.55 a tonne. (Reporting by Forrest Crellin; Editing by Shinjini Ganguli)

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