EUROPE POWER-German spot falls on wind supply gains
PARIS, June 10 (Reuters) - The German spot power price for Monday fell on Friday as wind supply is expected to be nearly double in the country.
German Monday baseload TRDEBD3 fell to 166 euros per megawatt hour (MWh) by 0920 GMT, down 11.9% from the price paid for Friday delivery. The equivalent French price TRFRBD3 was untraded.
Wind power output in Germany is expected to rise 5.1 gigawatts (GW) to 11 GW on Monday, while in France it is expected to drop 480 megawatts (MW) to 2.1 GW, Refinitiv Eikon data showed.
Refinitiv analysis showed that wind power supply in Germany is expected to fall on Tuesday and reach a low for the week next Wednesday at around 3 GW, before rising Thursday and returning to expected Monday levels on Friday.
French nuclear availability was unchanged at 51.4% of total capacity. POWER/FR
Nuclear operator EDF ECIFF said in a note that production restrictions are expected at the Saint Alban plant over the weekend due to low flow rates.
Demand in Germany is forecast to edge down 90 MW to 55.1 GW on Monday while in France it is expected to tick up 570 GW to 45.2 GW, the data showed.
Further along the curve, the German forward curve contracts were down across the board. 0#TRDEB:
Benchmark German baseload power for 2023 delivery TRDEBYZ3 dropped 2.7% to 226 euros/MWh, its lowest since May 25, extending losses since Tuesday.
The equivalent French contract TRFRBYZ3 was untraded with an asking price at 310 euros/MWh, higher than its close Thursday at 308 euros.
European CO2 allowances for December 2022 expiry CFI2Zc2 edged up 0.4% to to 81.29 euros a tonne.
Russian gas delivery to Europe via the Nord Stream 1 pipeline across the Baltic Sea and through Ukraine remained stable, while eastbound flows rose along the Yamal-Europe pipeline to Poland from Germany, operator data showed. nL1N2XX0F5
(Reporting by Forrest Crellin
Editing by Frances Kerry)
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