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German Next-Day Power Falls on Mild Weather; CO2 Little Changed
2010-10-08 09:48:32.843 GMT
By Mathew Carr
Oct. 8 (Bloomberg) -- German power for next-day delivery
fell as higher-than-normal temperatures curbed demand and
southerly winds may boost wind generation. European Union carbon
allowances were little changed.
Germany and the U.K. will experience above-normal
temperatures for the next week or so, followed by a return to
more usual temperatures for the season the week after next, said
Jim Dale, senior risk meteorologist at British Weather Services
in High Wycombe, about 30 miles (48 kilometers) northwest of
London. "This is an Indian summer situation," he said today in
a phone interview.
There's a breeze blowing from the Mediterranean, which
could support wind-powered generation, Dale said. An Indian
summer is a period of mild weather occurring in the fall.
Day-ahead baseload power declined 3.75 euros, or 7.8
percent, to 44.25 euros ($61.54) a megawatt-hour, according to
broker data compiled by Bloomberg as of 10:28 a.m. Berlin time.
Baseload is for delivery around the clock. It declined to 43
euros earlier today, the lowest price since Sept. 27.
Prices for next year in Germany, Europe's biggest
electricity market, have dropped 7.9 percent so far this year.
The benchmark contract rose 5 cents to 48.75 euros after
reaching a five-month low yesterday.
Bloomberg tracks power prices from brokers including GFI
Group Inc., ICAP Plc and Spectron Group Ltd. Brokers handle the
majority of trading in Europe's electricity markets.
EU carbon dioxide permits for December rose 1 cent to 15.48
euros a ton on London's European Climate Exchange. They climbed
23 percent in the year to date.
For Related News and Information:
Top power news: PTOP <GO>
European power home page: EPWR <GO>
U.K. power prices: ELEU <GO>
German power prices: ELGE <GO>
--Editors: Rob Verdonck, Randall Hackley
To contact the reporters on this story:
Mathew Carr in London at +44-20-7073-3531 or
m.carr@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net
