EUROPE POWER-Spot prices lifted by lower wind supply

PARIS, Nov 23 (Reuters) - European spot power contracts rose on Wednesday as wind power supply is expected to drop throughout the region.

Residual load in Germany is lifted day-on-day in all hours after early morning due to lower wind and solar output, while demand remains stable, Refinitiv analysts said.

German baseload power for delivery on Thursday gained 29.2% to 241 euros ($248.28) a megawatt-hour (MWh) at 1015 GMT.

The equivalent French price rose 20.7% to 242.50 euros/MWh.

Daily wind power output in Germany was forecast to decline 4.8 gigawatts (GW) day-on-day to 14.2 GW on Thursday, while France's wind supply was expected to shed 700 megawatts (MW) to 10 GW, Refinitiv Eikon data showed.

Solar power supply in Germany is similarly set to drop 960 MW to 1.6 GW on Thursday, the data showed.

The weather pattern will change to an anti-cyclonic situation next week, ending the stretch of mild and humid weather, Emeric de Vigan, vice president of power at data and analytics firm Kpler, said in a tweet.

The weather change is also expected to lower the average wind supply for the coming week, he added.

French nuclear availability was unchanged at 54% of available capacity.

Power consumption in Germany is expected to edge up 10 MW to remain around 63 GW on Thursday, while demand in France is set to add 610 MW to 56.5 GW, the data showed.

German baseload for 2023 delivery gained 6.3% to 367.80 euros/MWh.

The equivalent French contract was untraded with a bid-ask range between 420 euros and 452 euros.

European CO2 allowances for December 2022 expiry added 0.5% to 74.26 euros a tonne.

Germany is strong enough to weather the crisis caused by Russia's invasion of Ukraine and emerge stronger from it thanks to a new approach to energy, defence and trade policy in Europe's biggest economy, Chancellor Olaf Scholz said.

($1 = 0.9707 euros) (Reporting by Forrest Crellin; editing by Shinjini Ganguli)