PARIS — European spot electricity prices for Wednesday delivery jumped to more than 5-month highs due to a falling forecast for German wind and solar power generation, while French nuclear availability remained low.
* The price of over-the-counter baseload for Wednesday delivery in Germany rose 26% to 41 euros ($46.30) a megawatt hour (MWh) at 0917 GMT, the highest since Jan. 24.
* The French day-ahead contract added 15.3% to 40.75 euros/MWh, the highest since Jan. 24.
* Electricity generation from German wind turbines is expected to plummet by 8.5 gigawatt (GW) to 6.1 GW on Wednesday, while German solar power is forecast to drop 2.8 GW to 6.2 GW.
* French wind power supply is expected to add 400 megawatts (MW) to 2.1 GW, Refinitiv data showed.
* French nuclear power availability gained 1.4 percentage points on Tuesday to 56.2% of capacity.
* European Union leaders are split over which fuels deserve support from the bloc’s flagship green energy fund, after lawmakers on Monday called for rules that could allow the money to be spent on some fossil gas projects.
* On the demand side, power consumption is expected to add 410 MW in Germany to 52.4 GW on Wednesday.
* French electricity demand will tick up by 180 MW to 45.5 GW, Refinitiv data showed.
* Germany’s Cal ’21 baseload, the European futures benchmark, shed 0.2% to 43.05 euros/MWh after opening at a four and a half month high of 43.4 euros.
* The equivalent French year-ahead contract was untraded after closing at 48.15 euros/MWh on Monday, and had an ask price of 48.25 euros/MWh.
* December 2020 expiry European CO2 allowances shed 1.1% at 29.38 euros a tonne.
* Hard coal for northern European delivery in 2021 rose 0.25% to $59 a tonne. ($1 = 0.8855 euros) (Reporting by Forrest Crellin; Editing by Barbara Lewis)