Serbian Day Ahead Up on Floods; Wind Supports Central Europe

• Bosnian utility sets September shutdown for 230 MW unit
• Serbia trades at a premium due to floods
• Utilities in Bosnia and Macedonia to supply Serbia

Flooding in the Balkans pushed Serbian day ahead power higher on Monday while low levels of wind generation supported central European prices, traders said.
 

Czech and Slovak electricity for Tuesday rose 6 percent to 39.67 euros ($54.37)per megawatt hour with Hungary trading at a premium to its central European neighbours at 43.16 euros.
 

The worst Balkan floods in more than a century continued to limit energy production in Serbia where day ahead prices traded about 1.5 euros above those in Hungary, traders said.

Utilities in Bosnia and Macedonia said they would supply 180 megawatts and 80 MW, respectively, of power to Serbia's EPS which has seen output reduced 40 percent due to the floods.

"Serbian spot prices have increased because of flooding." one trader in the region said. "Currently they are trading 1.5 euros above the Hungarian over-the-counter spot price."

Further along the curve, the Hungarian front month gained 1.25 euros to 38.45 euros. On the Prague-based Power Exchange Central Europe the Czech Cal '15 declined 10 cents to 33.50 euros and the Hungarian front year rose 5 cents to 42.35 euros.
 

Around the region, the benchmark German Cal '15 ticked 1 cent higher to 34.26 euros on Germany's EEX exchange in afternoon trade. Day ahead on Poland's POLPX exchange rose a little less than 8 zloty to 181.40 zlotys ($59.39).

Bosnia's top power utility EPBiH JPES.SJ will shut a 230 megawatt (MW) unit at its Kakanj coal-fired power plant for regular maintenance from September to December, the utility said.

Europe's Energy Commissioner Guenther Oettinger said progress had been made in the gas price dispute between Russia and Ukraine after he held talks with Russia's energy minister and a senior representative of Gazprom.

Brent crude oil rose above $109 a barrel as tension over Ukraine kept investors on edge, although a gradual return of Libyan oil supply capped gains.

European Union carbon futures fell more than 2 percent to 4.74 euros a tonne in afternoon trading.

($1 = 0.7297 Euros) ($1 = 3.0544 Polish Zlotys)

(Reporting by Michael Kahn; Editing by David Evans)