PARIS - European spot electricity prices for day-ahead delivery diverged on Monday as forecasts for a sharp decline in wind and solar power generation provided support in Germany despite electricity consumption seen falling due to holidays.
* Electricity production from German wind turbines is expected to tumble further on Tuesday by almost 6 gigawatts (GW) to 10 GW from nearly 40 GW on Saturday, which pushed prices into negative territory.
* Solar power generation will drop by over 1 GW to 2.2 GW, according to Thomson Reuters data.
* The German baseload spot power price for Tuesday delivery gained 2.2 euros to 36.5 euros ($42.46) a megawatt hour (MWh), compared with the price paid on Friday for Monday delivery.
* German electricity demand is expected to fall by 4.5 GW on Tuesday to 59.6 GW as businesses close for holidays. Germany celebrates a Reformation anniversary on Tuesday followed by the All Saints day on Wednesday.
* The French prompt power price for Tuesday delivery fell 1.5 euros to 60 euros/MWh compared with the price paid for Monday delivery.
* In the week ahead contracts, prices rose sharply due to a further low wind forecast in Germany and delays in the restart of several nuclear reactors in France, a trader said.
* The German Week 1 contract soared over 33 percent to 43.25 euros/MWh. The equivalent French contract added 20 percent to 66 euros/MWh.
* French nuclear power is seen at 67.44 percent of capacity, same level as Friday following the delay in the restart of several reactors with a total capacity of over 4 GW.
* French electricity demand on Tuesday will rise by 4.3 GW to nearly 59 GW due to cold weather. Average temperature will fall by 2.4 degrees Celsius, the data showed.
* Along the forward power curve, the German Cal ‘18 baseload power rose 0.27 percent to 36.80 euros/MWh, tracking gains in carbon emissions and fuels.
* The equivalent French Cal ‘18 power contract was untraded at its 42.15 euros/MWh close.
* Coal cif Europe for 2018 added 1.24 percent to $85.80 a tonne.
* December-expiry EU carbon permits rose 1.26 percent to 7.26 euros a tonne.
* In eastern Europe, the Czech Tuesday power contract was 1.7 euros up at 37.45 euros/MWh. The year-ahead position was untraded.