Wind Supply Gains on Day-Ahead Prices
Central and southeastern Europe day-ahead power fell on Tuesday due to a strong gain in wind supply in the region, and Hungarian and Romanian spot prices remained at a large regional premium due to reduced import capacity, traders said.
On regional exchanges, electricity for Wednesday fell 16 percent to 28.80 euros ($33) per megawatt hour in the Czech Republic, declined 1 percent to 35.67 euros in Slovakia, decreased 10 percent to 42.90 euros in Hungary and slid 11 percent to 42.25 euros in Romania.
Data from Thomson Reuters Point Carbon showed forecasts for wind generation in Germany climbing 6 gigawatts to 16.1 gigawatts for Wednesday and doubling to just above 1 gigawatt in Romania.
"The largest driver tomorrow is the strong wind power," Point Carbon analysts wrote.
Further along the curve, the Czech front month was flat at 33.60 euros and Hungarian power for February fell 20 cents to 42 euros in over-the-counter trade.
On the Prague-based Power Exchange Central Europe, the Czech Cal '16 rose 15 cents to 31.35 euros and the Hungarian front year gained 5 cents to 41.50 euros.
Germany's highest court aims to decide this year on complaints filed by its biggest utilities against a decision to phase out nuclear power faster than initially planned, a spokesman for the court said.
Russia's Gazprom plans to supply the first gas via a new route to Turkey in December 2016, Chief Executive Alexei Miller said in a statement.
Serbia's water levels are forecast mixed until Feb. 3, after they mainly rose last week, the hydrometeorological service said in a weekly forecast.
Day ahead on Poland's POLPX exchange fell to 152.61 zlotys ($41) from 157.85 zlotys as bourse data showed planned and unplanned outages at the country's utilities would fall to 4.4 gigawatts for Wednesday from 4.7 gigawatts a day earlier.
Brent crude oil future prices held above $48 on Tuesday as a weaker dollar offset the impact of a global supply glut, with traders questioning if the nearly 60 percent price fall since June has run its course.
European carbon futures declined 5 cents to 6.88 euros a tonne in afternoon trading.
Reporting by Michael Kahn
