Power for Next Work Day Down on Less Demand, More Supply
Central European power for the next working day fell on Friday due to a holiday in the region expected to crimp demand and forecasts for strong renewable supply that would increase supply, traders said.
Czech power for Monday delivery fell to 19 euros ($25.87) per megawatt hour in the over-the-counter market, well below the Friday delivery price of 32.90 euros and the day ahead price of 25 euros.
A holiday in Germany and Austria on Monday will leave central Europe with more supply, traders said, as data from Thomson Reuters Point Carbon showed forecasts for renewable generation in Germany hitting 9.6 gigawatts on Monday, a more than 2 GW gain from Friday.
Power for Monday in Hungary fell to 33.75 euros, remaining at a regional premium as market operator data showed limited cross border capacity to import power from Slovakia.
"Spot prices are down because of the holidays in Germany and Austria," one trader in the region said. "There will be more supply as power will flow east."
Further along the curve, the Czech Cal '15 edged 10 cents lower to 33.35 euros and the Hungarian front year gained 10 cents to 42.85 euros in afternoon trade on the Prague-based Power Exchange Central Europe.
Around the region, the benchmark German Cal '15 declined 6 cents to 34.13 euros on Germany's EEX exchange in afternoon trade. Day-ahead on Poland's POLPX fell to 154.05 zlotys ($50.70) from 184.14 zlotys.
An explosion struck Kosovo's second-biggest coal-fired power station outside the capital Pristina on Friday and authorities said some people had been hurt, possibly killed.
Following the blast, energy distribution and supply company KEDS said Kosovo had to import 250 megawatt-hours of power to make up for shortages.
Elsewhere, Ukraine has stored 12 billion cubic metres (bcm) of natural gas underground and can receive 500 million cubic metres (mcm) per month from Poland, Hungary and Slovakia, Prime Minister Arseny Yatseniuk told parliament.
Vienna-based renewable energy developer RP Global has put on stream a 43.7 megawatt (MW) wind farm, the biggest so far in Croatia, to help the newest European Union member country boost its energy mix and meet the bloc's emission standards.
Brent crude oil rose above $109 a barrel, buoyed by optimism that monetary stimulus in the euro zone will lift economic growth and demand for fuel.
European Union carbon futures fell 7 cents to 5.51 euros a tonne in afternoon trading.
($1 = 0.7345 Euros) ($1 = 3.0387 Polish Zlotys)
(Reporting by Michael Kahn; Editing by Susan Thomas)
