Feb. 8 (Bloomberg) -- French and German power for 2014 climbed as prices for European coal rose the most in six months.
German electricity for 2014, a European benchmark, advanced as much as 2.9 percent while its French equivalent increased 1 percent, according to broker data on Bloomberg. Thermal coal for delivery to Amsterdam, Rotterdam or Antwerp gained as much as 1.5 percent, its biggest rise since Aug. 8.
German 2014 baseload power, for delivery around the clock, gained as much as 1.20 euros to 42.90 euros ($57.37) a megawatt-hour. It traded at 42.25 euros at 5:20 p.m. Berlin time.
French baseload power for next year traded at 45.15 euros after increasing as much as 45 cents to 45.25 euros. European coal for next year rose as much as $1.50 to $101.10 a metric ton, broker data on Bloomberg show. The contract traded at $100.80 at 5:20 p.m. Berlin time. Power can track other fuels such as coal which impact production costs.
Next-month profitability for German gas-fired power plants dropped to a record of minus 16.44 euros a megawatt-hour, the lowest value for the month-ahead clean-dark spread since Bloomberg started tracking it in Oct. 2009.
Germany’s EnBW Energie Baden-Wuerttemberg AG has reduced power output at its 1,458-megawatt nuclear plant Philippsburg 2 by 522 megawatts until tomorrow, the company said on its website.
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