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German Next-Year Power Heads for Biggest Weekly Drop Since June
2010-09-10 13:04:58.667 GMT
By Lars Paulsson
Sept. 10 (Bloomberg) -- German electricity for delivery
next year headed for its biggest weekly drop since June as fuel
costs and emissions prices fell, potentially cutting generating
costs in Europe's biggest market.
Baseload power for 2011 lost 1.85 euros, or 3.6 percent,
this week to 49.70 euros ($63.23) a megawatt-hour as of 1:53
p.m. Berlin time, according to broker data compiled by
Bloomberg.
That's the contract's first weekly drop in four weeks and
the first time since Aug. 18 it has been bought and sold below
50 euros. It has traded between 45.05 euros and 55.50 euros this
year. Baseload is delivered around the clock.
Winter U.K. natural gas, for delivery from October through
March, slid as much as 1.8 percent to 47.65 pence a therm. The
British market is Europe's biggest for the fuel and prices there
influence those on the continent.
EU permits for December 2011 dropped the most since July
26, falling as much as 2.3 percent to 15.45 euros a metric ton
on London's European Climate Exchange.
Germany also gets electricity from lignite, hard coal,
nuclear plants and wind and solar power. Bloomberg tracks power
prices from brokers including GFI Group Inc., ICAP Plc and
Spectron Group Ltd.
For Related News and Information:
European power-market stories TNI EUROPE PWRMARKET <GO>
Today's top power news PTOP <GO> and energy news ETOP <GO>
European electricity-markets home page EPWR <GO>
German power-plant shutdown news TNI GER VOLTOUT <GO>
--Editors: John Buckley, Jonas Bergman
To contact the reporter on this story:
Lars Paulsson in London at +44-207-673-2759 or
lpaulsson@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net
