×

Europe Power-Curve eases with energy markets

* German, French Cal '13 base positions each 15 cents down

* Spot mixed with Germany up on low wind, France lower

FRANKFURT, Oct 1 (Reuters) - Prices on Europe's power curve eased on Monday along with oil, coal, gas, and carbon as bearish supply-demand fundamentals dragged markets down.

Oil, the energy sector's lead currency, fell on investor concerns that a shaky global economy may hurt demand following evidence of a new recession in the debt-saddles euro zone.

In wholesale power forwards, German annual baseload supply for 2013 shed 15 cents to 47.75 euros ($61)

while the French equivalent was also 15 cents down at 50.20 euros.

The German benchmark Cal '13 had hit 47.50 euros on Sept. 24, which was close to a two-year low.

Gas and coal demand in Europe is subdued as forecasts for the winter season point to mild weather conditions.

In the spot market, German power for Tuesday delivery gained on expectations for lower wind and solar energy prodcution. Traders said wind capacity would recover in the second half of the week, citing weather data.

French power prices eased from those seen last Friday although the overall tight nuclear situation means they trade at a premium over Germany's.

The region will see lower demand due to Germany's Oct. 3 national holiday. The week ahead positions were higher, reflecting next week will be a full working week again.

France's day-ahead contract was off 25 cents at 51.50 euros

/MWh and the corresponding contract in Germany rose by 2 euros to 49.90 euros

.

The new month ahead contract, November, traded 3 euros above October's expiry level at 49.40 euros in Germany and 4 euros higher in France at 55 euros, as the heating season begins.

A Europe-wide safety review of nuclear reactors is expected to be finalised this week. It will include recommendations for additional safety measures at some power plants.

Switzerland would have to charge higher end-user power prices and resort to new gas-fired plants to fill supply gaps created by its planned nuclear phase-out prompted by Fukushima, the country's energy ministry said last Friday.

($1 = 0.7773 euros)

(Reporting by Vera Eckert; Editing by William Hardy)

((vera.eckert@thomsonreuters.com)(+49 69 7565 1228)(Reuters Messaging: vera.eckert.thomsonreuters.com@reuters.net))

((Click on the following for information about European cash power prices, outages and interconnector maintenance. FRANCE: baseload prices , outages , report GERMANY: baseload prices , peak outages , report UK: baseload prices , outages report SWITZERLAND: outages , reservoir levels NORDIC: report EU CARBON PRICES

Interconnector maintenance diary:

((Xtra clients: Click on

to see Top News pages in multimedia Web format.))))

Keywords: MARKETS EUROPE/ELECTRICITY