European spot prices decreased on weather forecast

16/06/2010 09:10 Electricity Market

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European spot prices decreased last two days on cooler weather forecast and larger power supply.

The maintenance season for nuclear power plants ended, and new capacities are available. The renewable capacities increased, due to strong wind forecasts in Spain. New hydropower generating capacities resulted from high water level water storages after intense ice melting in the mountains. This caused German spot prices drop 3.40 euros to 45.40 euros per MWh, while French spot eased by 2 euros to 45.25 euros per MWh. The new supply available influenced week and month-ahead futures, just like all major suppliers, including nuclear utilities, who declared to be fully prepared for eventual heat waves. Cal2011 baseload for France rose by 1.20 euros to 57.20 euros per MWh and German Cal2011 gained 45 cents to 54.20 euros per MWh, increases caused by higher gas and oil prices on world market.

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