German 2014 Power Declines for Third Day as Coal Drops to Record

Power for 2014 in Germany declined for a third day as coal dropped to a record.

The German baseload electricity contract, for delivery around the clock, weakened as much as 0.2 percent while coal for Amsterdam, Rotterdam or Antwerp slipped 0.4 percent, according to broker data compiled by Bloomberg.

The benchmark power contract fell 10 cents to 41.75 euros ($54.61) a megawatt-hour at 4 p.m. Berlin time, while European thermal coal for 2014 dropped 35 cents to $97.55 a metric ton, the lowest price since the contract started trading in January 2010.

German day-ahead power fell as wind output was set to increase. Baseload power for delivery tomorrow fell 9.6 percent to 53.96 euros a megawatt-hour in the daily auction on the EPEX Spot, exchange data on Bloomberg show. Wind power will peak at 3,589 megawatts at 11:30 p.m. tomorrow, according to a Bloomberg model. That compares with less than 1,000 megawatts at 3:20 p.m. Berlin time today.

In France, Electricite de France SA’s 1,300-megawatt Cattenom-2 nuclear power unit’s output was cut to 70 megawatts for unspecified reasons, Reseau de Transport d’Electricite said on its website.