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European Power for Next Year Advances as Carbon Price Increases

Power for 2014 delivery in Germany and France, Europe’s biggest markets, rose as European Union emissions permits advanced.

Baseload German year-ahead electricity, for supplies delivered around the clock, advanced as much as 1.3 percent while the French contract added 0.6 percent.

Emissions climbed as much as 8 percent after Claude Turmes, a member of European Parliament, said Germany may vote to introduce a carbon floor price if an EU proposal to temporarily curb a glut of permits isn’t approved. Power can track emissions, which affect production costs.

“Since February started, the link between European Union Allowance price movements and German power price ones has been strong,” Paolo Coghe, a Paris-based analyst at Societe Generale SA said in a report today. “Little price improvements are possible, but do not get carried away.”

German next-year power, a benchmark contract in Europe, climbed as much as 54 cents to 42.74 euros ($56.54) a megawatt-hour, according to broker data compiled by Bloomberg. The contract traded at 42.65 euros as of 4:40 p.m. Berlin time. French power advanced 25 cents to 45.10 euros.

EU carbon permits for December traded at 5.33 euros a metric ton, up 7 percent, after rising as high as 5.38 euros on the ICE Futures Europe exchange in London.

French day-ahead electricity lost 1.7 percent to 58 euros a megawatt-hour in broker trading and settled at 53.93 on EPEX Spot. The German next-day contract dropped 3.9 percent to 49 euros a megawatt-hour. The price settled at 47.95 euros in a daily auction on EPEX Spot SE.

EON SE’s 1,140-megawatt Brokdorf nuclear power plant in Germany returned to full capacity after halting yesterday, Almut Zyweck, a company spokesman, said by phone today from Hannover. RWE AG started its Niederaussem-G lignite-fed power plant after an unplanned halt on Feb. 17, according to the company’s website.

Wind output in Germany is predicted at about 5 gigawatts tomorrow, Meteologica SA, a Madrid-based weather forecaster, said on its website. That compares with an average level of 4.9 gigawatts, according to data from European Energy Exchange AG on Bloomberg.

Temperatures in France may fall to minus 1 degree Celsius (30 Fahrenheit) at 6 p.m. tomorrow compared with a previous forecast of minus 0.7, according to a GFS model supplied by MetraWeather to Bloomberg. In Germany, minimum temperatures will reach minus 4.7 degrees at 6 p.m. tomorrow, compared with a previous prediction of minus 4.5 degrees.

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