FRANKFURT: European spot power prices for early next week rose on Friday, boosted by rising demand for air conditioning in a scorching summer and as calm weather pointed to lower wind power supply.
"More demand next week will coincide with low wind power supply although thermal plant supply will rise," a trader said.
The German baseload power price for Monday was 7.80 euros up from Friday prices at 43.80 euros a megawatt hour (MWh) and the French delivery contract for Monday was 8.75 euros up at 41.0 euros.
Wind power supply in Germany is expected to fall to 823 MW on Monday from 4,752 MW on Friday, but then recover to above 1,200 MW on Tuesday and Wednesday, according to Point Carbon, a Thomson Reuters company.
Temperatures are going to rise across the region by an average 1.3 degrees between Friday and Monday to 24.3 degrees Celsius on that day, PC said.
Apart from the 24-hour average, Germany's daytime range will be between 25 and 30 degrees, a pattern unlikely to change into next week, German met office DWD said.
Meanwhile, the European region's average power consumption on Monday at 122 GW will exceed that on Friday by 1.4 percent and consumption on Tuesday, of 126 GW, will be up 4.2 percent from Friday, PC data said.
German and Austrian power plant capacity is likely to rise by 5.3 percent to 60,252 MW in the seven days to July 26, data on the European Energy Exchange (EEX) website showed on Friday.
Operators have reported to the exchange that they plan to add capacity from gas and oil-fired, nuclear and hydroelectric installations.
Along the power forward curve, the price of German power for delivery in 2014 was steady at 37.40 euros after a dip by 10 cents earlier in the session.
The equivalent French contract was 10 cents down at 41.85 euros.
Both prices are not far off their 2013 lows seen at the end of last month.
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