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Germany’s Green Drive Subdues 2013 Power Prices: Energy Markets

A surge in renewable energy in Germany is pushing power prices for 2013 below next year’s level even as natural gas, coal and emissions rise.

Electricity for 2013 was 45 euro cents (61 cents) a megawatt-hour cheaper than next year’s contract today after the gap widened to as much as 1.25 euros at the start of last week, broker prices on Bloomberg show. The country, Europe’s biggest power consumer, will build 7,000 megawatts of solar and wind capacity in 2013, 32 percent more than the additions planned for next year, according to Societe Generale SA.