EUROPE POWER-Spot diverges, Germany in the wind, France on demand – Energy & Oil


FRANKFURT, June 29 (Reuters) – Wholesale electricity spot prices in Europe diverged on Monday as Germany fell due to unusually strong winds, but France is firming in the face of rising temperatures and increased demand.* The base contract in Germany for Tuesday delivery fell 56.7% compared to Monday delivery to 13 euros ($ 14.66) per megawatt hour (MWh) at 10:45 GMT.

* The equivalent French price is up 8.2% to 33 euros.

* Electricity generation from German wind turbines is expected to more than double to 27 gigawatts (GW) on Tuesday from 12.2 GW on Monday, data from Refinitiv Eikon showed. The data also predicts high levels between around 7 to 15 GW during the working days of the current fortnight.

* French nuclear availability remained at 51.9% of installed capacity.

* Switzerland’s largest reactor in Leibstadt begins its annual six-week shutdown on Monday.

* On the demand side, German consumption should reach Tuesday 52.2 GW, up 2.3 GW day by day, and increase by 500 MW in France to 44.5 GW.

* Along the futures curve, the benchmark position of the German Cal ‘21 gained 1% to 40.3 euros after a weak start, driven by gains on the carbon market.

* The equivalent French annual contract for 2021 is 47.8 euros.

* Expiration December 2020 European CO2 quotas increased by 2.4% to 25.32 euros per tonne.

* Hard coal for delivery to Northern Europe in 2021 was not traded after a close at $ 57.9 a tonne.

* The second of two reactors at the French plant in Fessenheim is scheduled to close on Monday evening. The other closed in February.

* Plans to compensate German producers of coal plants for the shutdown as part of a 2038 exit deal are to be decided this week in Berlin, where the cabinet approved compensation for coal operators last week. ($ 1 = 0.8870 euros) (Report by Vera Eckert; Editing by Mark Potter)


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