FRANKFURT, Oct 8 (Reuters) – Higher supply forecast weighed on European wholesale power prices on Wednesday with demand due to ease. "Rising wind power supplies are the main reason behind dropping German residual load. The signal is bearish," said LSEG analyst Riccardo Parviero. "Thermal availability is strengthened in Germany, across the whole stack. In addition, French nuclear availability keeps increasing." French day-ahead baseload power was down 8.6% at 74 euros ($86.01) per megawatt hour at 0745 GMT, while the equivalent German contract was untraded with an ask price of 109 euros/MWh following a close at 127.8 euros, LSEG data showed. Wind power output in Germany is expected to rise 63% day-on-day to 14 gigawatts (GW) on Thursday, while French output is expected to increase by 2.1 GW to 2.7 GW. Meanwhile, both German and French solar power generation metrics were predicted to rise by 1.1 GW combined. French nuclear availability gained one percentage point to stand at 75% of total capacity. On the demand side, German power use is expected to rise by 1.2 GW to 57.8 GW on Wednesday, while that of France is projected to dip by 230 MW to 46.8 GW. Along the forwards curve, German year-ahead baseload shed 0.6% to 87.5 euros/MWh, while the French front-year was not traded, but indicated lower, after a settlement at 59.7 euros. The European carbon market's benchmark 2025 contract was virtually unchanged at 78.28 euros a metric ton. In macroeconomic developments, German industrial output fell much further than expected in August on a plunge in car production. There is generally no sign of an economic recovery, which is unfavourable for energy usage. The EEX bourse published September trading data, with flagship European power futures volumes losing 2% year-on-year at 797 TWh in the month, and European power spot up 1% at 73 TWh. ($1 = 0.8604 euros) (Reporting by Vera Eckert; Editing by Harikrishnan Nair)
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