E.ON sold German nuclear power forward at below-market levels

08/08/2019 08:30 Nuclear

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German utility E.ON said on Wednesday it had sold forward the bulk of its nuclear generation volumes for 2019, two thirds of those for 2020 and a third of 2021 at prices below the current wholesale market.

Some 91% of its German nuclear power output in 2019 from reactors at the Preussen Elektra unit was sold at 31 euros ($34.71) per megawatt hour (MWh), according to slides prepared for an analyst call on its first-half financial results.

 

Some 62% of 2020 output was sold at 46 euros, while 36% of 2021 output was sold at 46 euros, the slides showed.

 

The hedge rates of forward production volumes are tracked by traders and analysts.

 

The German wholesale price for round-the-clock power delivered in 2020 last traded at 50.1 euros/MWh, Refinitiv Eikon data showed. It is not far off nine-month highs hit in late July, when they were driven by carbon price gains and a summer heatwave.

Source: reuters.com

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