Spot Falls On Sunny Weather, Less Demand
Declining demand headed into the weekend and forecasts for abundant solar supply pulled central European spot power lower on Thursday though Hungarian prices remained at a regional premium, traders said.
On regional exchanges, Czech and Slovak electricity for Friday fell 1.6 percent to 33.18 euros ($45.26)per megawatt hours while Hungarian day ahead dipped a little more than 3 percent to 37.92 euros.
Data from Thomson Reuters Point Carbon showed wind generation for Friday in Germany would dip slightly to 2 gigawatts while solar output would jump about 2 GW to 8.6 GW.
"There's more sunshine and some wind generation in Romania which helped to pull Hungary down," one trader said.
Further along the curve, the Czech front month fell 5 cents to 31.50 euros and Hungarian electricity for August was unchanged at 45.25 euros in over-the-counter trading.
On the Prague-based Power Exchange Central Europe, the Czech Cal '15 fell 5 cents to 33.75 euros and the Hungarian front year held steady at 43.15 euros in afternoon trade.
Around the region, the benchmark German Cal '15 decreased 8 cents to 34.47 euros on Germany's EEX exchange in afternoon trade. Day-ahead on Poland's POLPX rose to 225.29 zlotys ($74.04)from 209.86 zlotys.
Romanian state-owned power grid operator Transelectrica ROTEL.BX plans to invest 5.3 billion lei ($1.65 billion) to upgrade its power lines by 2023, it said.
The Germany-based Central Allocation Office GmbH (CAO) has offered capacities for its auction for cross border capacity in August of 2014 in the CEE region.
Russian natural gas flows to the European Union through Slovakia via Ukraine were running normally on Thursday morning, Slovak pipeline operator Eustream said.
Brent crude futures fell below $111 a barrel as supply fears began to ease after Libya declared an end to an oil crisis that has slashed exports from the OPEC member.
European Union carbon futures fell 1 cent to 6.01 euros a tonne in afternoon trading.
($1 = 0.7331 Euros) ($1 = 3.0427 Polish Zlotys)
(Reporting by Michael Kahn; Editing by)
