Europe Power-Spot prices weighed down by solar supply

Oct 24 (Reuters) - High solar and thermal power output expectations weighed on European spot power prices on Monday, reversing an uptrend in second half last week when higher consumption kicked in.

Day ahead baseload in Germany was 11.40 euros lower at 51.10 euros a megawatt hour, with week- and month-ahead levels also showing losses.

French day ahead baseload was 8.75 euros lower at 57.25 euros.

Traders said the weather was expected to be warmer than last week while more comfortable capacity usage levels pointed to adequate nearby supply.

German solar capacity utilisation will peak at around 17,000 MW in midday hours over the next few days, they said.

German utility RWE said its Weisweiler gas turbine H was losing 253 MW of capacity and will be offline until around Nov. 14 while block G, of the same capacity, will be offline until around Monday.

RWE also said its Emsland D would be losing up to 275 MW for around a day on Monday.

The power curve was underpinned by rising oil, which was boosted by some eurozone optimism and strong Chinese manufacturing data while coal and carbon traded sideways and spot gas higher.

Cal ‘12 baseload in Germany was 25 cents higher at 55 euros and stable in France at Friday’s 53.80 euros.

EU leaders made some progress towards dealing with the zone’s sovereign debt crisis on Sunday, nearing agreement on bank recapitalisation and on how to leverage their rescue fund to try to stop bond market contagion.

But final decisions were deferred until a second summit on Wednesday and sharp differences remain over the size of losses private holders of Greek government bonds will have to accept.

Eurostat figures for August showed industrial new orders rose well beyond expectations then, but other business surveys for October showed the EU bloc’s private sector has been tipping further into decline since then.

(Reporting By Vera Eckert; Editing by Alison Birrane)