Europe spot power up on rising demand

Reuters News
Posted: Dec 05, 2016 3:54 AM

FRANKFURT (Reuters) - German and French spot power prices jumped on Monday as the market grappled with rising demand and low wind power supply in Germany.

The French Tuesday baseload price was at 65 euros ($69.00), up 20 percent day-on-day, while the German price was up 24 percent at 50 euros.

Demand will rise 1.3 gigawatts in Germany day-on-day to Tuesday to 70.5 GW, and in France it will increase 2.1 GW to 71.4 GW, where Wednesday's will be higher still, Thomson Reuters data showed.

Further ahead, week two in France gained 20.5 percent to 78 euros.

Prices have risen sharply in interconnected Europe since October on uncertainty over French nuclear power availability this winter.

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French nuclear availability was last reported at 79 percent of the total, two percentage points up from a week ago.

(Reporting by Vera Eckert, editing by Louise Heavens)