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Europe Power-Spot rises on lower wind, tight nuclear

Wednesday, 10 Oct 2012 | 12:07 AM ET

* Traders also cite tensions after French strike

* Curve remains unchanged

PARIS, Oct 10 (Reuters) - European spot power prices rose slightly on Wednesday, supported by an expected drop in German wind power output for the day ahead and more delayed restart dates at French nuclear power plants, traders said.

"The wind production in Germany is deteriorating further and amounts to roughly 1 GW over the course of the day," Thomson Reuters Point Carbon analysts wrote on Wednesday.

Offline French nuclear power capacity remained at higher than normal levels of around 30 percent, with French grid RTE signalling six delayed restart dates for EDF

reactors in maintenance.

Traders also cited some remaining uncertainty following Tuesday's strike in the energy sector in France, which completely halted production at E.ON's

thermal power plants in France.

"All of E.ON's plants were off yesterday and as far as I know they were all available again today, but the strike notice still hasn't been lifted, and this is creating tensions," a Paris-based trader said.

French day ahead baseload was up 75 cents on the day at 54 euros ($69.64) a megawatt hour (MWh)

.

"For us, a reasonable price would have been 1 or 2 euros below that," the trader said.

Germany's day ahead baseload contract was also 75 cents euros up at 52 euros per MWh.

Power demand in Germany was expected to fall by about 1 GW on Thursday, while French consumption was set to rise slightly.

Along the forwards power curve, Germany's benchmark contract for 2013 delivery

remained stable at 47.75 euros and the same position in France was unchanged from Tuesday at 50.75 euros.

U.S. crude futures extended gains to more than $1 a barrel, testing resistance at highs from late September and earlier this month just above $93.30, as Middle East tensions continued to support oil prices.

($1 = 0.7754 euros)

(Reporting by Michel Rose; editing by Keiron Henderson)

((michel.rose@thomsonreuters.com)(+331 4949 5570)(Reuters Messaging: michel.rose.thomsonreuters.com@reuters.net))

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Keywords: MARKETS EUROPE/ELECTRICITY

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