Coal for 2014 Plunges to Record as Credit Suisse Cuts Forecast
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European coal for 2014 dropped to record as Credit Suisse AG analysts cut their price forecasts for the fuel and the region’s electricity costs.
European power will average 37.5 euros per megawatt-hour in 2016, down from 46.60 euros forecast in December, Zoltan Fekete and Vincent Gilles said in a research note today. They cut their outlook amid expectations that stagnant power demand won’t be matched by reduced capacity, and on lowered price forecasts for carbon emission permits and coal.