CEE POWER: Rising Demand, Less Wind Ddrive Spot Prices Higher
Central and southeastern day-ahead power prices climbed higher on Tuesday due to forecasts for a sharp decline in wind supply across the region and rising consumption, traders said.
On regional exchanges, Czech and Slovak electricity for Wednesday rose to 29.18 euros ($32.70) per megawatt-hour, increases of 30 percent and 14 percent, respectively. Thomson Reuters data showed forecasts for wind production in Germany falling about 6 gigawatts (GW) to 9.9 GW.
Hungarian prompt power gained 4 percent to 29.23 euros and Romanian day ahead rose 4 percent to 29.23 euros as wind generation in Romania was expected to dip around 400 megawatts (MW) to 583 MW.
Further along the curve, the Czech front month climbed 35 cents to 24.65 euros in the over-the-counter market where Hungarian power for April rose 10 cents to 27.75 euros.
The Czech Cal '17 gained 25 cents to 22.25 euros while German baseload power for next year on the EEX bourse, the benchmark contract for European electricity, increased 11 cents to 22.05 euros.
Day-ahead power on Poland's POLPX exchange rose to 162.38 zlotys from 138.63 zlotys ($36.52). Bourse data also showed the country's utilities would have 4.8 GW offline on Wednesday, down from 5.2 GW on Tuesday.
Oil prices fell on Tuesday, reflecting growing concerns that a two-month rally may be in danger of fizzling, while analysts forecast another rise to record levels for U.S. crude stockpiles.
European coal prices for 2016 rose 32 cents, or 0.78 percent, to $41.25 a tonne. Front-year EU carbon allowances fell 0.06 euro or 1.23 percent to 4.80 euros a tonne. ($1 = 0.8921 euros) ($1 = 0.8923 euros) ($1 = 3.7955 zlotys) (Reporting by Michael Kahn,; Editing by Maja Zuvela)
