European 2014 Coal Increases After Germany’s RWE Burns More FuelMarek Strzelecki
European coal for next year increased from a record low after Germany’s second-largest utility reported that its power stations in Europe emitted more carbon dioxide last year amid higher coal burn.
Thermal coal for delivery in 2014 to Amsterdam, Rotterdam or Antwerp gained 0.1 percent to $96.20 a metric ton as of 3:50 p.m. London time, after falling to $95.90, the lowest level since the contract started trading in January 2010, according to broker data compiled by Bloomberg.
RWE AG emitted 11 percent more carbon last year than in 2011 as output from plants fueled by hard coal and lignite increased, the utility said in its annual report published today. Coal-fired plants in Germany were earning 7.82 euros ($10.20) a megawatt-hour for next-year power as of 5 p.m. Berlin time, while gas-fired plants were losing 14.83 euros a megawatt-hour, according to calculations based on coal, power, gas and emissions prices.
Bloomberg tracks broker data from ICAP Plc, GFI Group Inc., Marex Spectron Group Ltd., Credit Suisse Group AG, IHS McCloskey, Tradition Financial Services and Tullett Prebon Plc.