German 2014 Power Declines as European Coal, Emissions Drop
Power for 2014 in Germany, Europe’s biggest economy, fell as coal and emissions allowances declined.
Baseload German 2014 electricity, for supplies delivered around the clock, slid 0.9 percent, while next-year coal weakened as much as 0.4 percent and carbon permits dropped as much as 4.6 percent. Power can track emissions and coal, which affect production costs.
The benchmark power contract declined 40 cents to 42.30 euros ($55.98) a megawatt-hour at 11:14 a.m. Berlin time, according to broker data compiled by Bloomberg. European 2014 coal for delivery to Amsterdam-Rotterdam-Antwerp slipped as much as 50 cents to $98.25 a metric ton. EU carbon permits for December fell as much as 28 cents to 4.91 euros a ton on the ICE Futures Europe exchange in London.
March power in Germany lost 1.2 percent to 38.40 euros a megawatt-hour while the equivalent French contract slid 1.3 percent to 45.15 euros, broker data show.
EON SE had an unplanned halt at its 676-megawatt hard coal- fed power plant on Feb. 22. The unit is scheduled to start on Feb. 27, the company said on its website.
Electricite de France SA halted its St. Laurent-2 and Gravelines-4 nuclear reactors on Feb. 23 for maintenance, French grid operator RTE says on its website.
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