Wednesday, 01 Jun 2011
European coal derivatives advanced in London trading. Coal for delivery to Amsterdam, Rotterdam or Antwerp with settlement next year rose 25 cents, or 0.2%, to USD 126.75 a metric tonne by 1:12PM in London.
They have dropped 1.2% this week. Profit from running coal-fired power plants for next month, the so-called clean dark spread, is about EUR 6.91 (USD 9.80) a megawatt-hour as compared with EUR 2.10 from burning natural gas.
The calculation uses electricity prices in Germany and takes emission costs into account. December carbon-dioxide permits under the European Union cap-and-trade system were unchanged at 16.38 euros. Gas for delivery in the six months through September 2012 to the UK, Europe’s biggest consumer of the fuel, gained 0.8% to 64.10 pence (USD 1.05) a therm in London. (sourced from Bloomberg)
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