By Catherine Airlie
Oct. 15 (Bloomberg) -- German electricity for delivery next
year sank to a six-month low as falling natural-gas and carbon-
dioxide permit prices reduced generating costs.
Baseload power for 2011 dropped 20 cents, or 0.4 percent,
to 48.35 euros ($68.11) a megawatt-hour, its lowest level since
April 14, according to broker data compiled by Bloomberg at
11:20 a.m. Berlin time. Baseload is delivered around the clock.
The European benchmark contract has slid along with gas
prices, a fuel used for about 15 percent of generation in
Germany, Europe's biggest power market. U.K. natural gas for
next summer, delivered in the six months through September, fell
0.5 percent to 48.1 pence a therm. The contract has fallen about
12 percent since July 5. Fuel costs in the U.K., Europe's
biggest gas market, affect those on the continent.
Fossil-fueled power stations in Europe require carbon-
dioxide permits for each metric ton of the gas they emit.
European Union CO2 permits for December fell 0.3 percent to
15.49 euros a metric ton on London's European Climate Exchange.
Bloomberg tracks energy prices from brokers including GFI Group Inc., ICAP Plc and Spectron Group Ltd.
For Related News and Information:
European gas-market stories TNI EUROPE GASMARKET <GO>
Today's top gas news GTOP <GO> and energy news ETOP <GO>
European Energy Brokers Page NRGB <GO>
--Editors: John Buckley, Rob Verdonck
To contact the reporter on this story:
Catherine Airlie in London at +44-20-
7073-3308 or cairlie@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net
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Mathew Carr, emissions markets, energy reporter. London Bloomberg News ph +44 207 073 3531 yahoo ID carr_mathew
