EUROPE POWER-Prompt down on persistently high wind output

FRANKFURT, Dec 21 (Reuters) – European spot power prices fell on Thursday on rising wind power supply, while demand was declining ahead of the holiday weekend. LSEG analyst Oletom Djupskaas highlighted a bearish “combination of dropping demand due to the impending Christmas break and high renewable supply, especially in Germany.” German day-ahead baseload power dropped 41.2% to 16.8 euros ($18.38) per megawatt hour (MWh) at 0920 GMT. The equivalent French contract was indicated in a 25-29 euros/MWh range, having closed at 36.8 euros. German wind power supply is forecast to rise by 500 MW to a very high 45.1 gigawatts (GW) on Friday, LSEG data showed. Low pressure system Zoltan is sweeping across the region, moving south on Friday and…