EUROPE POWER-Spot prices rise on lower wind supply
PARIS, June 9 (Reuters) - The German wholesale spot power price climbed on Thursday as wind supply is expected to fall throughout the region, though lower demand and higher German solar supply muted the gains.
German baseload TRDEBD1 for day-ahead delivery added 3.9% to 188.50 euros per megawatt hour (MWh) by 0914 GMT.
The equivalent French contract TRFRBD1 gained 2.8% to 193.25 euros.
Supply from German wind turbines is forecast to drop 4 gigawatts (GW) to 5.9 GW on Friday, while that in France is seen falling 3.2 GW to 2.6 GW, Refinitiv Eikon data showed.
Power from German solar panels is seen up 2.1 GW to 10.6 GW, the data showed.
French nuclear availability was unchanged from 51.4% of total capacity. POWER/FR
Power demand in Germany is seen down 2.1 GW on Friday at 55.2 GW, while consumption in France is projected to drop 2 GW to 44.6 GW, the data showed.
The German front-year contract TRDEBYZ3 fell 1.1% to 234 euros/MWh.
The equivalent French contract TRFRBYZ3 was untraded after closing at 306.13 euros on Wednesday.
European CO2 allowances for December 2022 expiry CFI2Zc2 gained 0.9% to 80.54 euros a tonne.
The European Parliament on Wednesday rejected a proposal to upgrade the European Union's carbon market, an unexpected move that exposed divisions over the bloc's core climate policy and could delay negotiations to finish the measure. nL1N2XV0X1
The voting problems reveal that the desire for reform in the area of climate action is less unanimous than it was before the massive surge in energy prices, analysts at Commerzbank said.
Prices in EU emissions trading hardly responded to the events on Wednesday and are likely continue to tread water, they added.
Europe's gas inventories are accumulating at a record rate and are now significantly above the 10-year seasonal average. nL1N2XV1A5
(Reporting by Forrest Crellin; Editing by Subhranshu Sahu)
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