* German Calendar 2017 down Eur2 from last week's 2016-high
* French Q1 power still up 50% over past four weeks
* Rise in wind forecast eases pressure on spot
European power prices eased further Tuesday with falling coal and carbon emissions prices pushing forward contracts lower, while a rebound in wind saw spot prices drop from their highest since January.
German day-ahead baseload power was last heard OTC at Eur38.10/MWh, while Epex Spot settled Wednesday even lower at Eur36.87/MWh, down for a second day after spiking Monday at Eur50.19/MWh.
Wind power generation for average baseload hours was set to continue its upwards trend, spotrenewables.com data showed. More than 9 GW from wind generation was forecast for Wednesday, and combined solar and wind power for average peakload hours will rise to 14 GW.
Availability of lignite and hard coal will remain overall stable at 33.4 GW with nuclear pegged at 10.6 GW for Wednesday, EEX Transparency data showed.
French day-ahead power was last heard trading OTC at Eur63.50/MWh, down 70 euro cent from Monday's close, which was the highest since December 2013, S&P Global Platts pricing data showed.
Peak demand for Wednesday was due to reach 63.5 GW, up from a peak of 62.5 GW on Tuesday, RTE data showed.
Temperatures were due to remain at around 4 C below the norm for this period, putting pressure on the system amid low nuclear availability, set to increase to 41.4 GW on Wednesday.
On the curve, German Cal 17 base was falling for a third session after rising over 20% since mid-September to a 2016-high above Eur31/MWh last Thursday.
By noon London time, the Calendar was heard at Eur29.40/MWh, down 55 euro cent on Monday's close.
In underlying fuel markets, front-year coal into Europe was also down for a third day, trading below $63/mt during the morning after last week reaching levels not seen since 2014 above $67/mt.
EUA carbon allowances also eased further to trade just above Eur5.50/mt by noon London time after breaking through Eur6/mt last week for the first time in four months.
In France, the front-quarter contract eased slightly to Eur62/MWh, after an extraordinary rally which saw the contract jump over 50% over the past three weeks since September 20 amid concerns about reduced nuclear availability this winter amid ongoing and extended inspections at 18 French reactors.
