Bloomberg News

German 2013 Power Has Steepest Fall This Month as Coal Gains

November 15, 2012

German power for next year fell the most this month as carbon permits had their biggest three-day drop since 2006. Benchmark European coal advanced.

Year-ahead power decreased as much as 0.6 percent to 47.15 euros ($60.35) a megawatt-hour, according to broker data compiled by Bloomberg. That’s the steepest decline since Oct. 29. The contract traded at 47.20 euros a megawatt-hour at 3:20 p.m. in London.

Thermal coal for delivery in 2013 to Amsterdam, Rotterdam or Antwerp added as much as 0.6 percent to $97.10 a metric ton, according to broker data compiled by Bloomberg.

The 2013 German clean-dark spread, a measure of profit that utilities can earn from selling electricity after accounting for the cost of coal and emission permits, rose for a third day, gaining 5.6 percent to 10.07 euros a megawatt-hour, according to data compiled by Bloomberg.

EU allowances for December lost as much as 11 percent to 7.06 euros a metric ton on the ICE Futures Europe exchange in London and were at 7.27 euros at 3:14 p.m. in London. That takes their three-day decrease to 20 percent.

To contact the reporter on this story: Marek Strzelecki in Warsaw at

To contact the editor responsible for this story: Lars Paulsson at

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