Rising Wind Generation, Lower Demand

By Michelle Howard
Thursday, August 21, 2014

Forecasts for an increase in wind power output and lower demand sent central European day-ahead power prices lower on Thursday, traders said.

On regional exchanges, Czech and Slovak power for delivery on Friday fell 11.7 percent to 30.83 euros ($40.91) per megawatt-hour (MWh) while day-ahead power in Hungary declined 15.3 percent to 33.41 euros.

Data from Thomson Reuters Point Carbon showed forecasts for wind power generation in Germany increasing by 2.6 gigawatts (GW) to nearly 5.4 GW.

The expected drop in consumption will also offset a fall in solar power generation, which is forecast at 5.8 GW on Friday.

Further along the curve, Czech power for delivery next year gained 10 cents to 34.65 euros while the Hungarian front-year contract shed 5 cents to 43.55 in afternoon trade on the Prague-based Power Exchange Central Europe.

Around the region, the benchmark German Cal '15 gained 15 cents to 35.50 euros in afternoon trade on Germany's EEX exchange.

Poland's utilities will have over 4 GW and nearly 4.3 GW of power offline for planned maintenance on Friday and Saturday, respectively, according to PSE power grid operator data. Day-ahead on Poland's POLPX increased to 179.91 zlotys ($56.96) from 178.01 zlotys.

Brent crude oil fell towards $101 a barrel on Thursday, just above a 14-month low, on plentiful fuel supplies and as Chinese economic data pointed to slowing demand, although prices began recovering in early U.S. trading.

European Union carbon futures lost 15 cents to 6.29 euros a tonne in afternoon trading.

(1 US dollar = 0.7536 euro) (1 US dollar = 3.1586 Polish zloty)

(Reporting by Maja Zuvela; Editing by Michael Urquhart)

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