Platts: European Power Prices Up Nearly 14% in November on Increased Demand
U.K. and European Natural Gas Also Rose
LONDON, Dec. 5, 2013
LONDON, Dec. 5, 2013 /PRNewswire/ --Day-ahead electricity prices in
Continental Europe increased by nearly 14% in November as colder, calmer
weather in late month sparked an increase in demand and prompted a decline in
wind power production, according to monthly data just released by Platts, a
leading global energy, petrochemicals and metals information provider.
The Platts Continental Power (CONTI) Index* climbed 13.6% in November to
€50.50 per megawatt hour (/MWh) compared to the October rate of €44.44/MWh.
Year-over-year the Platts CONTI Index is down 1.4%.
"November was a game of two halves," said Andreas Franke, Platts editor. "The
first two weeks were bearish to prices, given the strong output of wind power
and the above-average power generation. But colder temperatures in the final
two weeks of the month prompted higher demand and drove prices upwards to
their highest levels since January this year."
German peak load prices exceeded €60/MWh with some hourly prices spiking above
€100/MWh as wind output all but vanished amid the winter's first cold snap.
Overall, wind power generation in November was down 21% from October, while
solar output dropped 58% from the prior month.
Working day-ahead baseload power prices in the U.K. also climbed in November,
up nearly 6%, as colder weather and longer nights boosted demand for
electricity and natural gas. Day-ahead prices in November averaged £51.18/MWh,
up 6% from the October average of £48.23/MWh.
The power price rise was roughly in line with natural gas. U.K. day-ahead
natural gas prices were up 5% from the prior month and year-over-year they
were up 4%.
"The onset of colder weather pushed U.K. gas prices higher even though the
system coped easily with increased demand," said Nathan Richardson, Platts
editor. "The return of full flows through the Langeled pipeline from Norway
reduced concerns of supply tightness, while gas was consistently available via
the Dutch BBL line, the St. Fergus Total terminal and from the South Hook LNG
At Continental Europe's most liquid natural gas trading hub, the Dutch TTF,
the average price of day-ahead gas in November was €27.22/MWh, up 5% from
October and little changed from a year ago.
Platts Continental Europe and U.K. Day-Ahead Monthly Averages
Nov-13 Oct-13 Nov-12
CONTI (€/MWh) 50.50 44.44 51.20
TTF (€/MWh) 27.22 25.87 27.25
U.K. Power (£/MWh) 51.18 48.23 48.73
U.K. Gas (pence/therm) 68.33 65.10 65.63
NOTE: All figures are monthly averages of daily day-ahead contract prices as
assessed by Platts.
*Platts Continental Power (CONTI) Index is a demand-weighted baseload average
of day-ahead contracts assessed in Germany, Switzerland, France, Belgium and
the Netherlands. The Platts U.K. assessments reflect day-ahead contracts
assessed for firm delivery of power on the high voltage network of England,
Wales and Scotland, and at the National Balancing Point for gas. The Platts
assessments reflect prices as determined between buyer and seller in the open
For more information on electric power or the methodology used by Platts in
its power assessments, visit the Platts website www.platts.com.
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