Platts announces European power prices fell 12% in may as natural gas prices slipped 2.7%
Thursday, Jun 07, 2012
LONDON, June 6, 2012 /PRNewswire/ -- Prices of European power and natural gas declined in May, reports Platts, a leading global energy, petrochemicals and metals information provider.
European power prices fell 12% month on month in May and were down nearly 26% year on year, Platts' data shows. The average cost of power in continental Europe, as indicated by the Platts' Continental (CONTI) Power Index, a demand-weighted baseload average of day-ahead contracts assessed in Germany, Switzerland, France, Belgium and the Netherlands, was 43.28 euros (Eur) per megawatt hour (/MWh) in May compared to Eur49.37/MWh in April and Eur58.51/MWh in May 2011.
Meanwhile natural gas prices at continental Europe's most liquid trading hub, the Dutch Title Transfer Facility (TTF), dipped 2.7% in May from April, according to Platts' assessments, though they rose by 5.2% on a year-on-year basis.
The average cost of day-ahead natural gas on the Dutch TTF edged down to Eur24.15/MWh in May from Eur24.81/MWh in April, the Platts price assessments show. The year-ago May 2011 average price was Eur22.96/MWh.
"European power and gas price movements in May were pressured by differing factors," said Platts editor Henry Edwardes-Evans. "Last year European power was buoyed by Germany's decision to close nuclear reactors, but oversupply and weak demand have since re-asserted themselves. Natural gas has been shielded to some extent from demand weakness by its link to global oil, although we've witnessed some significant price declines in recent weeks, again due to slack demand and comfortable supply margins."
About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, and shipping markets. A division of The McGraw-Hill Companies (NYSE: MHP), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com .
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