FRANKFURT, Aug 8 (Reuters) - Europe's power curve on Monday
afternoon was mixed after some quarterly contracts for 2023 had
set record highs on a mix of Russian gas and French nuclear
concerns combined with bullish short-term weather factors.
German baseload supply for second-quarter 2023
was up 1.9% at 367 euros ($374.49) a megawatt hour (MWh) at 1445
GMT, below an earlier record of 375 euros, while third-quarter
2023 was still at its highest ever at 374.1 euros, up 3.3%
French second-quarter 2023 and third-quarter 2023 positions
were at all-time highs of respectively 349.5 euros, up 7.5%
, and 338 euros, up 7.3%.
But annual French delivery for 2023 remained untraded and
the equivalent German contract, Cal '23 baseload,
lost 0.7% to 407 euros, having hit 415 euros earlier.
Russian gas exports via the Nord Stream 1 pipeline into
Germany, and those through Ukrainian pipelines were steady on
Monday while the overall prospect of scarcity this winter
remains in place after Russia curtailed shipments.
France's regulator extended temporary waivers allowing five
power stations to continue discharging hot water into rivers as
the country contends with a fourth heatwave of the
Hot and dry weather has also curbed river levels, hampering
the transport of coal to power plants as barges cannot sail
The French Gravelines 2 and 5 reactors will end their
current outages four and 7 days later respectively, on Aug. 18
and 21, EDF reported.
Spot power prices were below those at the end of last week
on forecasts for more German wind power supply.
German Tuesday baseload traded at 356 euros, 7.6%
below the price of Monday delivery. French day-ahead baseload,
at 361 euros, was down 7.9%.
Germany will likely produce 6.4 gigawatts (GW) of wind power
on Tuesday, 2.4 GW more than on Monday, Refinitiv Eikon data
Power usage in Germany is set to rise by 1.4 gigawatts (GW)
to 54.8 GW on Tuesday and in France will edge up by 200 MW to 43
($1 = 0.9800 euros)
(Reporting by Vera Eckert and Forrest Crellin, editing by David