Bloomberg News

European 2014 Power Slides to Record as EU Coal, Emissions Fall

January 21, 2013

European power for 2014 delivery fell to a record as carbon emissions and coal declined to all- time lows.

Baseload German 2014 electricity, for supplies delivered around the clock, slid as much as 1.2 percent, while the French equivalent lost 0.9 percent, according to broker data compiled by Bloomberg.

The benchmark contract declined as much as 50 cents to 42.20 euros ($56.22) a megawatt-hour, a record. In France, the contract slid 40 cents to 45.35 euros, the lowest since Bloomberg started tracking the contract in January 2011.

European coal for delivery in 2014 declined 0.6 percent to $98.65 a ton, while European emissions allowances for December dropped 0.3 percent to a record 4.79 euros a metric ton on the ICE Futures Europe exchange in London. Power can track emissions and coal, which affect production costs.

February power in Germany lost as much as 3.8 percent to a record 44.50 euros while the equivalent French contract slid 3.7 percent to 52 euros a megawatt-hour, the lowest since the contract started, broker data show.

Low temperatures in Frankfurt are forecast to decline to minus 11 degrees Celsius (12 Fahrenheit) on Jan. 25 versus a 10- year seasonal average of 2 degrees, according to CustomWeather Inc. data on Bloomberg. Minimum temperatures in Paris are expected to fall to minus 10 degrees tomorrow, compared with a 10-year average of 5 degrees.

Demand in France, Europe’s second-biggest power market, may reach 88,000 megawatts tomorrow, according to a forecast on the website of Reseau de Transport d’Electricite, the network operator. That compares with 82,835 megawatts today.

Electricite de France SA had an unplanned halt at its Gravelines-6 nuclear power plant yesterday, RTE said on its website. The 910-megawatt unit is scheduled to start on Jan. 25.

To contact the reporter on this story: Rachel Morison in London at rmorison@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net


Hollywood Goes YouTube
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus