Jan. 2 (Bloomberg) -- German 2014 power declined to a record as wind generation is set to nearly double tomorrow.
German 2014 baseload power, for delivery around the clock, fell as much as 0.6 percent to the lowest since Bloomberg started tracking the contract in January 2010, according to broker data compiled by Bloomberg. The contract, a European benchmark, slid 25 cents to 45.15 ($59.63) euros a megawatt-hour as of 4:34 p.m. Berlin time.
Power for delivery tomorrow dropped in the day-ahead auction on the European Energy Exchange AG as more wind power is anticipated tomorrow. Today’s auction resulted in a price of 33.77 euros a megawatt-hour, a drop of 12 percent from yesterday’s day-ahead sale at 38.24 euros. German day-ahead power stood at 31 euros, according to broker data on Bloomberg.
German wind farms may generate nearly 15,000 megawatts tomorrow, compared with about 8,000 megawatts today, Meteologica SA, a Madrid-based weather forecaster, said on its website.
The French year-ahead contract fell as much as 0.8 percent to 47.50 euros a megawatt-hour, the least since January 2011. Electricite de France SA restarted the 1,330 megawatt Paluel-4 reactor after maintenance yesterday, the country’s grid operator, Reseau de Transport d’Electricite, said on its website.
Nordic power for delivery next month fell as temperatures in Oslo may rise to zero degrees Celsius (32 Fahrenheit) on Jan. 9 from minus 7 degrees today, according to CustomWeather Inc. data on Bloomberg. That compares with a five-year seasonal norm of minus 7 degrees.
The power contract for February dropped as much as 1.8 percent to 41.85 euros a megawatt-hour and closed 32 cents lower at 42.30 euros on Nasdaq OMX Group Inc.’s energy exchange in Oslo.
European coal for delivery in 2014 to Amsterdam, Rotterdam or Antwerp stood at $102.55 a metric ton as of 3 p.m. in London, according to broker data compiled by Bloomberg, its first gain since Dec. 18.
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