U.S. Natural Gas Futures Drop Below $3 for First Time Since 2012

German 2013 Power Unchanged Before Holiday, EU Carbon Declines

German power for 2013 delivery was unchanged before a national holiday tomorrow as European Union carbon permits fell.

Baseload next-year electricity, for supplies around the clock, lost as much as 0.4 percent in earlier trading as carbon declined as much as 2.4 percent.

Deutsche Bank AG said that lower coal prices and the growing possibility of government intervention in the wholesale market through some form of capacity-payment system poses further downside risk to power prices.

Power for 2013 was unchanged at 47.75 euros ($61.55) a megawatt-hour at 5:16 p.m. Berlin time, according to broker data compiled by Bloomberg. Carbon for December delivery slid 5 cents to 7.90 euros a metric ton on the ICE Futures Europe exchange.

Carbon prices remain dominated by “EU discussions about a potential tightening of the EU-Emissions Trading Systems cap,” Mark C. Lewis, an analyst at Deutsche Bank in Paris, said in an e-mailed report.

The German 2013 clean-dark spread, a calculation of the profit utilities get from selling electricity for next year after accounting for the cost of coal and emissions permits, rose 1.5 percent to 10.32 euros a megawatt-hour at 5:17 p.m., data compiled by Bloomberg show.

Power for next month fell 0.7 percent to 49.10 euros and the day-ahead contract lost 44 percent to 28 euros a megawatt- hour, broker data show.

Nuclear, Wind

EON AG started two of its nuclear power plants yesterday after unplanned halts. The 1,410-megawatt Brokdorf unit started after a turbine fault was fixed and EON’s 1,360-megawatt Grohnde reactor started after an unplanned halt. Eight of Germany’s nine reactors are generating power as EnBW Energie Baden-Wuerttemberg AG (EBK)’s Neckarwestheim-2 is halted for maintenance.

Wind generation is forecast to increase tomorrow to about 14 gigawatts, Meteologica SA, a Madrid-based weather forecaster said on its website. That’s above an average level of 5.2 gigawatts, according to data from Leipzig-based European Energy Exchange AG on Bloomberg.

Wind speeds of 22.2 kilometers (14 miles) an hour are forecast for tomorrow compared with 12.9 kph on Oct. 4, according to CustomWeather Inc. data on Bloomberg.

To contact the reporter on this story: Rachel Morison in London at

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

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