Czech spot power tumbled on Tuesday as wind generation was forecast higher while cross border capacity problems caused the integrated Czech and Slovak market to decouple temporarily, traders said.
Electricity for Wednesday delivery fell nearly 8.5 percent to 45.90 euros ($58.17)per megawatt hour in the over-the-counter market, trading at about a 60 cent discount to the German OTC price.
Czech day ahead cleared market operator OTE’s daily auction at 45.84 euros but the normally coupled markets diverged with neighbouring Slovakia in hours 14-16 and 19-21.
During those times Slovak electricity traded at 120 euros compared to a range of 45.79 euros to 55.19 euros on the Czech market. Traders said cross border capacity bottlenecks at those times probably caused the spike on the Slovak market.
Further along the curve, Cal ’13 baseload was 15 cents lower at 48 euros in late afternoon trading on the Prague-based Power Exchange Central Europe, marking a fresh all-time low for the contract that has weakened on Euro zone debt fears.
Around the region, the benchmark German Cal ’13 was down 16 cents to 50.20 euros in late afternoon trading on Germany‘s EEX.
In Serbia, water levels for power generation were forecast to fall on the Danube but otherwise seen mainly flat on other rivers through January 24 after they declined last week.
Bosnian grid operator Nezavisni Operator Sistema (NOS) published the results of its February cross-border power capacity auction.
Day ahead on Poland’s POLPX exchange fell to 185.36 zlotys ($53.41)from 190.08 zlotys while electricity for Wednesday soared to 76.92 euros from 59.30 euros on Hungary’s HUPX as the trend of volatile spot prices continued on the bourse.
U.S. crude futures rose above $101 a barrel as the dollar weakened and appetite for riskier assets increased following stronger-than-expected Chinese fourth quarter GDP data and German economic sentiment data for January.
EUAs for December delivery, the bellwether carbon contract, were up 5 cents to 6.78 euros a tonne at 1436 GMT.
Source Reuters