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German Power Has Biggest Weekly Gain Since June on Coal Prices

German electricity for delivery next year rose a fourth day for its biggest weekly gain since June as the benchmark contract tracks coal higher and the euro slid against the dollar.

Baseload power for 2011 in Europe’s biggest electricity market rose 48 cents to 48.60 euros ($66.62) a megawatt-hour at 4:39 p.m. Berlin time, according to broker prices compiled by Bloomberg. The contract gained 3.4 percent this week, its first rise in eight and the most since the seven days ended June 4.