German power for 2014, a benchmark for European electricity prices, fell as the cost of emission permits declined from a two-week high.
German baseload power, for delivery around the clock, fell as much as 27 cents to 42.03 euros ($56.38) a megawatt-hour and traded at 42.23 euros as of 5:30 p.m. in Berlin. European carbon allowances for December dropped 7 cents to 4.47 euros a metric ton after earlier sliding to 4.22 euros on London’s ICE Futures Europe exchange. Power can track emissions and other fuels that influence production costs.
“We reiterate our negative view on the German power price due to worsening oversupply from negative demand growth, renewables and the collapsing emissions market, which would imply a carbon price of zero absent political intervention,” Per Lekander, a Paris-based analyst at UBS AG, said today in an e-mail.
In France, baseload power for March fell as much as 3.6 percent to a record 43.15 euros amid forecasts of milder-than-average weather. The maximum temperature in Paris will rise to 12 degrees Celsius (54 Fahrenheit) on Feb. 16, compared with today’s temperature and seasonal median of 9 degrees, according to CustomWeather Inc. data on Bloomberg.
French nuclear generation was little changed today as two reactors halted and two started, according to data from grid operator Reseau de Transport d’Electricite. The 1,335-megawatt St. Alban-2 and 1,310-megawatt Nogent-2 units are back online, while the 880-megawatt reactor Bugey-5 was halted Feb. 9 for maintenance and the 1,300-megawatt unit Cattenom-4 stopped on Feb. 8, RTE said on its website.
In Germany, power generation availability will advance to 64,900 megawatts on Feb. 21 from 62,000 megawatts today, according to the transparency website of European Energy Exchange AG.
EnBW Energie Baden-Wuerttemberg AG’s nuclear plant unit Philippsburg 2 came back online on Friday after a 522-megawatt reduction of power output that lasted “several hours,” Ulrich Schroeder, a company spokesman said via phone from Karlsruhe today. On Feb. 14, EON AG will take its 550-megawatt gas-fired plant Irsching 4 offline for maintenance until Feb. 18, the company said on its transparency website.