China November Industrial Output Rises 10% Year-on-Year; Estimate 10.1%
German 2013 Power Has Steepest Fall This Month as Coal Gains
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.
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