German 2014 Power Drops With Decline in Carbon Emissions PricesRachel Morison
Power for 2014 in Germany, Europe’s biggest economy, fell as emissions allowances declined.
Baseload German 2014 electricity, for supplies delivered around the clock, dropped 1.6 percent, while carbon permits plunged as much as 13 percent. Power can track emissions and coal, which affect production costs.
Carbon prices fell after the European Parliament’s environment committee chairman abandoned a fast-track approval process for a plan to curb a surplus of emission allowances. The measure will go to a European Parliament plenary vote in April, environment panel chairman Matthias Groote confirmed today.
The benchmark power contract declined 70 cents to 42 euros ($55.58) a megawatt-hour at 5:17 p.m. Berlin time, according to broker data compiled by Bloomberg. EU carbon permits for December fell as much as 66 cents to 4.53 euros a ton on the ICE Futures Europe exchange in London.
March power in Germany declined 1 percent to 38.45 euros a megawatt-hour while the equivalent French contract slid 1.6 percent to 45 euros, broker data show.
EON SE delayed the start of its 676-megawatt Scholven-F hard coal-fed power plant to March 2, the company said on its website. The unit had an unplanned halt on Feb. 22.
Electricite de France SA halted its St. Laurent-2 and Gravelines-4 nuclear reactors on Feb. 23 for maintenance, French grid operator RTE said on its website.