German 2014 Power Declines After European Coal Drops to Record
German 2014 electricity for delivery around the clock declined as much as 0.7 percent, reversing an earlier gain after European coal dropped as much as 1.1 percent, according to broker data compiled by Bloomberg.
Electricity can track coal and other fuels that affect production costs. Power plants in Germany fired by lignite and hard coal account for more than 20 percent of the country’s total installed capacity, according to data from from Bundesnetzagentur, the nation’s grid regulator.
The benchmark power contract dropped 30 cents to 41.70 euros a megawatt-hour ($54.25) as of 5:18 p.m. Berlin time, after rising to 42.25 euros. European thermal coal for 2014 delivery in Amsterdam, Rotterdam or Antwerp slid $1.10 cents to $96 a metric ton, the lowest price since the contract started trading in January 2010, before recovering to $97.50.
Day-ahead power in Germany fell 15 percent to 41.59 euros a megawatt-hour in the daily auction on the EPEX Spot, amid forecasts that wind-power capacity will rise tomorrow.
Hourly wind power output will average 2,543 megawatts tomorrow, peaking at 3,525 megawatts at 9 a.m., according to Bloomberg’s German wind power model. That compares with today’s output of about 2,300 megawatts at 5:15 p.m.
German next-month profit for gas-fired plants dropped to minus 17.67 euros a megawatt-hour, the lowest level since Bloomberg started tracking the spread in Oct. 2009.
To contact the reporter on this story: Julia Mengewein in Frankfurt at email@example.com
To contact the editor responsible for this story: Lars Paulsson at firstname.lastname@example.org