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EUROPE POWER-Prompt prices buckle under weight of wind supply

FRANKFURT, Nov 21 (Reuters) - European day-ahead electricity prices dropped on Monday from levels paid for delivery on that day because of higher wind power supply forecasts and generally mild temperatures that capped demand rises.

German Tuesday delivery baseload traded at 193 euros ($197.46) per megawatt hour (MWh) at 1000 GMT, losing 4% from the price that had been paid for Monday.

The equivalent French contract shed 11.3% at 213 euros/MWh.

Wind power supply in Germany is forecast to more than double to 21.8 gigawatts (GW) day-on-day from 10.5 GW on Monday, with both German and French wind levels looking healthy for the rest of the week, Refinitiv data showed.

French nuclear availability was unchanged.

Market notices on the EEX showed that Uniper will operate the Irsching 5 gas block at a full 846 MW on Tuesday and Wednesday.

A forward notice also showed that its new Scholven GuD gas plant of 138 MW will be synched with the grid in first quarter 2023.

Eastern German brown coal generator Leag reduced its Lippendorf plant last Friday to 435 MW capacity from 891 MW until further notice, due to expectedly lower lignite supply, it said.

Power demand in Germany will rise 1.8 GW day-on-day to 63.4 GW and that in France by 700 MW to 56.7 GW.

Temperatures are forecast to rise in Germany and ease slightly in France into next week.

German 2023 baseload gained 3.8% at 330 euros, tracking carbon.

The equivalent French position was untraded after a close at 388.4 euros.

European CO2 allowances for December 2022 expiry rose 1.9% to 73.79 euros a tonne.

Two of four German high voltage grid operators will be maximising flows of renewable power to guard against tight supply situations in winter, after the government allowed raised charges for transport.

TransnetBW said last week that overhead cables will be bumped up. TenneT has issued a similar statement. ($1 = 0.9774 euros) (Reporting by Vera Eckert; Editing by Mike Harrison)

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