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EUROPE POWER-Curve benchmark below intraday record high, spot down

FRANKFURT, Aug 4 (Reuters) - Power curve prices in the European wholesale market soared on Thursday on a combination of firmer oil and carbon and Russian gas supply uncertainty, while spot prices fell on lower demand as the current heat wave was forecast to ease.

German baseload for 2023 delivery at 0900 GMT was at 399 euros ($406.10) per megawatt hour (MWh), 0.3% off from the close but below an earlier record high of 407 euros, with a number of quarterly products at records.

The equivalent French position was untraded after closing at a record high of 521 euros, where the asking price was 523 euros.

European CO2 allowances for December 2022 expiry climbed 0.6% to 84.48 euros a tonne.

Physical gas flows on the Nord Stream 1 pipeline from Russia to Germany were little changed after they were cut on July 27 while eastward flows on the Yamal-Europe pipeline through Poland rose, and westward shipments via Ukraine continued.

German Chancellor Olaf Scholz on Wednesday said Russia had no reason to hold up the return of a gas turbine for Nord Stream 1.

Day-ahead power prices were off as average 24-hour temperatures were due to fall 2-5 degrees in the region, according to Refinitiv Eikon data.

This weighed down air conditioning demand and consumption typically also falls ahead of the weekend.

Usage in Germany should stand at 55.1 GW on Friday, down 1.8 GW, and that in France at 42.9 GW, down 4.2 GW, that data showed.

Also, more wind power supply was on the cards in Germany and France.

Low water levels on Germany's main shipping artery, the Rhine, will impact output from a big coal-fired power station east of Frankfurt over the coming month.

French nuclear availability was unchanged at 49.3% of available capacity.

The German Friday baseload price was down up 7.7% at 385 euros and the French day-ahead contract off 17.4% at 422 euros.

($1 = 0.9825 euros) (Reporting by Vera Eckert, editing by Jason Neely)

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