December chill ushers in year highs

摘要

German prompt power prices ended 2010 on a year-high as freezing temperatures combined with below average wind output and bullish effects of market coupling.rnBaseload power for next-day delivery closed December 14 at €71.50/MWh, while peakload rose to €90.25/MWh. Overall, German spot prices in 2010 were on average 12% higher than in 2009 as the industrial recovery boosted demand. According to Platts data, German day-ahead OTC power prices for baseload delivery averaged €45.76/MWh in 2010 compared with €40.91/MWh in 2009. However, prompt prices remain far below those in 2008. Spot prices eased over the holiday period as a drop in industrial demand made the system more comfortable, while temperatures rising above the seasonal average in early 2011 boosted hydro levels and kept prices below their December peaks.