PARIS, Feb 24 (Reuters) - European spot electricity prices for Thursday delivery rose on Wednesday following forecasts for a fall in wind power supply in France and Germany.
* The price of over-the-counter baseload for Thursday delivery in Germany was up 12% to 45.35 euros ($55.19) a megawatt hour (MWh) at 0917 GMT.
* The French day-ahead contract jumped 17.7% to 45 euros/MWh.
* With wind power forecast to decrease, while consumption and solar power output are near flat, the residual load is expected to increase tomorrow, especially in the second half of the day, Refinitiv analysts said.
* Electricity generation from German wind turbines is expected to fall by 4.1 gigawatts (GW) day-on-day to 15.2 GW, while solar power generation is expected to add 150 megawatts (MW) to 5.9 GW, Refinitiv data showed.
* French wind power supply is expected to drop by 3.7 to 2.6 GW, the data showed.
* Europe’s biggest wind power generator Iberdrola pledged on Wednesday to invest 150 billion euros ($182.36 billion) in renewable energy and grids by 2030, after posting a 4.2% rise in annual profit.
* French nuclear power availability remained unchanged at 75% of available capacity on Wednesday.
* On the demand side, German electricity demand is forecast to fall by 260 MW to 59.2 GW on Thursday, the data showed.
* Power consumption is expected to rise 170 MW in France to 56.2 GW.
* Further along the curve, German Cal ‘22 baseload power gained 0.2% to 52.60 euros/MWh.
* The French 2022 contract was untraded after closing at 53.50 euros/MWh on Tuesday.
* December 2021 expiry European CO2 allowances slid 0.1% to 38.62 euros a tonne.
* Hard coal for northern European delivery in 2022 remained unchanged at $67.40 a tonne.
* ($1 = 0.8218 euros) (Reporting by Forrest Crellin Editing by Barbara Lewis)
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February 24, 2021 at 04:45PM
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EUROPE POWER-Lower wind power supply lifts spot prices - Reuters
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