GERMAN, FRENCH POWER: Cal drops as carbon retreats; spot diverges
London (Platts)--13Nov2012/836 am EST/1336 GMT
German forward power prices fell Tuesday following sharp gains in the
previous session as EUA carbon allowances retreated from an eight-month-high.
On the prompt, prices diverged, with German day-ahead lower due to a
high solar power forecast, while French prompt prices moved up because of a
short-lived drop in temperatures and as nuclear output remained reduced, a
In Germany, power for day-ahead delivery fell Eur1.75 from its highest
level so far this month, with Wednesday base last heard before 12:00 London
time at Eur52.25/MWh, while peakload power was last heard OTC Eur1.50 lower
French day-ahead last traded OTC Eur4 above Germany at Eur56.25/MWh for
base, while peakload was last heard at Eur66.50/MWh, up Eur2.50 from Tuesday
and almost Eur5 above Germany.
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Epex Spot settled German day-ahead below OTC at Eur50.89/MWh for base
and Eur60.18/MWh for peakload. The same contract in France settled at
Eur55.01/MWh for base and Eur64.82/MWh for peakload.
In Germany, wind power output was forecast to remain at a below average
2 GW for average baseload hours Wednesday, a market source said. Solar output
was forecast to rise to around 4 GW for Wednesday's average peakload hours,
with mid-day peaks possibly reaching 10 GW, the source added.
Conventional plant availability for Wednesday was forecast slightly
higher, with nuclear remaining at its full 12.1 GW capacity, lignite
availability at 19.7 GW and hard coal at 13.5 GW, according to EEX
In France, nuclear availability was forecast to rise to 54.4 GW
Wednesday, up from a 52.7 GW forecast for Tuesday, according to data from
grid operator RTE.
Temperatures across Germany are forecast largely in line with the
seasonal average, with CustomWeather pegging Dusseldorf at 1 degree Celsius
above the 5-11 C norm Wednesday, up from 1 C below Tuesday.
Paris is forecast to drop from the seasonal average to 2 C below
Wednesday, CustomWeather data shows.
On the near curve in Germany, December base remained near its highest
level so far this month, just 10 euro cents lower on the day at Eur46.65/MWh,
following Monday's Eur1.55 rise, with little change to the weather outlook.
Further forward, Cal 13 base shed 40 euro cents to Eur47.35/MWh as EUA carbon
allowances dropped more than 50 euro cents to Eur8.55/mt just before 12:00