European spot prices rose on Monday as German wind supply is expected to fall and demand is seen up in France and Germany.

Consumption increases on Tuesday, on the back of a sudden temperature drop in Germany and throughout the rest of the region, while wind power supply is expected to yield decreasing supplies, especially in Germany, Refinitiv analysts said.

German day-ahead baseload power traded at 98.25 euros per megawatt hour (MWh) at 0911 GMT, up 5.6% from the price paid for Monday.

The equivalent French contract was at 91 euros/MWh, up 4.6%.

German wind power production was forecast to fall by 4.3 gigawatts (GW) to 12 GW on Tuesday, while wind supply in France was expected to tick up 120 megawatts (MW) to 2.2 GW, Refinitiv Eikon data showed.

Refinitiv analysis showed that wind supply is expected to fall to between 11 and 12 GW from Wednesday to Thursday and drop to 8 GW on Friday.

On the demand side, German consumption was forecast to rise by 1.3 GW day-on-day to 52.1 GW on Tuesday, and in France, use was expected to rise by 870 MW to 43.5 GW, Refinitiv Eikon data showed.

French nuclear availability rose two percentage points to 68% of available capacity.

The scale of nuclear ramp down in the last few weeks has been "rather impressive", Kpler analyst Emeric de Vigan said in a tweet, citing data that showed low demand, low prices and high renewable supply has led to less nuclear power usage in the stack.

Along the curve, the German year-ahead position shed 0.3% to 144.50 euros/MWh. The French 2024 contract was untraded after closing at 172.50 euros/MWh.

European CO2 allowances for December 2023 expiry added 0.8% to 92.14 euros a tonne. (Reporting by Forrest Crellin, Editing by Louise Heavens)