Czech and Slovak Prompt Prices Fall on Lower Consumption
- Solar generation forecast to triple to 2.6 GW
- Czech and Hungarian Cal '15 prices fall
- Hungarian spot premium widens
Czech and Slovak day-ahead power fell on Thursday due to lower demand heading into the weekend and rising renewable production, while a pick-up in consumption after a state holiday lifted Hungarian spot prices, traders said.
On regional exchanges, Czech electricity and Slovak electricity for Friday fell 17 percent to 36.59 euros ($46.29) per megawatt hour. Day-ahead power on Hungary's HUPX gained 6 percent to 47.27 euros as the system remained tight, traders said.
Wind generation in Germany is forecast to rise 800 megawatts to 3.8 gigawatts (GW) on Friday and solar production to nearly triple to 2.6 GW, according to data from Thomson Reuters Point Carbon.
"We are approaching the weekend and consumption is structurally down," Point Carbon analysts wrote.
Further along the curve, the Czech front month drifted 50 cents lower to 34.60 euros and Hungarian power for November declined 15 cents to 45.25 euros.
On the Prague-based Power Exchange Central Europe, the Czech Cal '15 dipped 5 cents to 33.75 euros and the Hungarian front year fell 15 cents to 43.10 euros. The benchmark German Cal '15 contract eased 19 cents to 34.12 euros in afternoon trade on Germany's EEX exchange.
Around the region, the European Union is set to make it easier to bring road transport emissions into the carbon trading market, a move that critics say could empower carmakers to push back against more effective curbs on greenhouse gases.
Day-ahead prices on Poland's POLPX exchange declined to 173.74 zlotys ($51.98) from 188.23 zlotys as bourse data showed planned and unplanned outages would decline to 4.7 GW on Friday from 5.1 GW a day earlier.
Brent crude oil rose above $85 a barrel on news Saudi Arabia cut its supply to the market in September, even though its overall production grew month-on-month.
European carbon futures were down 4 cents at 6.19 euros a tonne in afternoon trading.
($1 = 0.7905 euro; $1 = 3.3426 Polish zloty)
(Reporting by Michael Kahn; Editing by Pravin Char)
