Beruflich Dokumente
Kultur Dokumente
Report on
European
Electricity
Markets
EUROPEAN COMMISSION
Gnther H. Oettinger
HIGHLIGHTS
Following the usual seasonal patterns the gross inland electricity consumption in Q2
2010 decreased on EU-27 level compared to the first quarter of the year, however, it
exceeded the quarterly power consumption of the second quarter of 2009 which was
the deepest period of the economic crisis.
The beginning of the second quarter of the year corresponds with the period of
maintenance works of power plants (planned outages) on many EU markets that
exerted apparent impacts on the evolution of electricity prices.
After having experienced unusual conditions on the Nordic market in the first months
of 2010 the second quarter could be characterized as a period of returning to normal
market functioning. Both prices and traded volumes were significantly lower than
those of the first quarter, returning to levels typical for this period of the year. As a
consequence of the lower price levels the region became net power exporter again in
Q2 2010.
Wholesale electricity prices generally moved upwards in the second quarter of 2010
on most of the observed markets, helped by constant rise of coal and gas prices and
colder-than-usual weather conditions in April and May 2010 in many EU countries.
However, on some markets where the weather was milder and the situation of the
economy weighed on power demand, price decreases could be observed.
Forward prices of fuels continued rising in Q2 2010. The 2011 forward prices for
baseload power increased as well, however in May a drop took place due to the fears
of a new economic downturn.
The focus on topic deals with the steam coal markets including the structure of EU
steam coal imports. Steam coal's importance is particularly high in power production.
QUARTERLY REPORT
ON
EUROPEAN ELECTRICITY MARKETS
CONTENTS
Page
A.1.1 Day-ahead
EU wholesale markets
Regional markets
Central Western Europe
Northern Europe
Apennine Peninsula
Iberian Peninsula
Central Eastern Europe
British isles
South Eastern Europe
4
4
5
5
12
14
16
17
20
21
24
27
27
28
29
32
Source : Eurostat
Monthly consumption for Italy, Greece and Malta (June 2010) is
estimated based on GDP data for the second quarter of 2010
from Eurostat's Principal European Economic Indicators.
Disclaimer
This report prepared by the Market Observatory for Energy of the European Commission aims at enhancing public access to
information about electricity prices within the Members States of the European Union. Our goal is to keep this information timely
and accurate. If errors are brought to our attention, we will try to correct them. However the Commission accepts no
responsibility or liability whatsoever with regard to the information contained in this publication.
Copyright notice
Reproduction is authorised provided the source is acknowledged.
European Commission, Directorate-General for Energy, Market Observatory for Energy, 2010
Source : Eurostat.
Selected Principal European Economic Indicators
* Gross domestic product (GDP) at market prices is the final
result of the production activity of resident producer units. It is
defined as the value of all goods and services produced less the
value of any goods or services used in their creation. Data are
calculated as chain-linked volumes (i.e. data at previous year's
prices, linked over the years via appropriate growth rates).
Growth rates with respect to the same quarter of the previous year
(Q/Q-4) are calculated from raw data.
35 /MWh
120
30 /MWh
100
25 /MWh
80
20 /MWh
60
15 /MWh
40
10 /MWh
20
5 /MWh
Brent crude spot (/bb l)
NBP Sp ot (/MWh)
0
0 /MWh
1 2 3 4 5 6 7 8 9 10
2007
12 1 2 3 4 5 6 7 8 9 10
2008
12 1 2 3 4 5 6 7 8 9 10
2009
12 1 2 3 4 5 6
2010
Source : Platts.
A.1.1 Day-ahead
EU wholesale markets
The monthly average of Platts Pan
European price index showed a minor
increase during the second quarter of 2010
(up from 39.6/MWh measured in March
to 45.9/MWh in June).
Monthly Pan European Price index (Platts) and
Monthly Aggregate Volumes (selected electricity markets)
1 00 /MWh
110 TWh
90 /MWh
100 TWh
80 /MWh
70 /MWh
90 TWh
60 /MWh
50 /MWh
80 TWh
40 /MWh
70 TWh
30 /MWh
20 /MWh
60 TWh
10 /MWh
0 /MWh
50 TWh
4 5 6 7 8 9 1 01112 1 2 3 4 5 6 7 8 9 101112 1 2 3 4 5 6 7 8 9 101 112 1 2 3 4 5 6
2007
2008
2009
2 01 0
1 8 TWh
1 6 TWh
100 /MWh
1 4 TWh
8 0 / MWh
1 2 TWh
1 0 TWh
6 0 / MWh
8 T Wh
4 0 / MWh
6 T Wh
4 T Wh
2 0 / MWh
2 T Wh
0 /M Wh
0 T Wh
4 5 6 7 8 9 101 1 1 2 1 2 3 4 5 6 7 8 9 10 111 2 1 2 3 4 5 6 7 8 9 1 011 12 1 2 3 4 5 6
200 7
200 8
EPEX DE - Vol um e
2009
EPEX DE b ase price
2 010
EPEX DE pea k pric e
Source : Platts.
7 /M Wh
6 /M Wh
5 /M Wh
4 /M Wh
3 /M Wh
2 /M Wh
1 /M Wh
0 /M Wh
-1 /M Wh
-2 /M Wh
01/Apr 12/Apr 19/Apr 26/Apr 04/May 11/May 18/May 25/May 02/Jun 09/Jun 16/Jun 23/Jun 30/Jun
DE Clean Dark
UK Clean Dark
5 /MWh
0 /MWh
-5 /MWh
-1 0 /MWh
-1 5 /MWh
APX : NL
Monthly volumes and prices
120 /M Wh
3 .0 T Wh
-2 0 /MWh
0 1 Apr 08 Apr15 Apr 2 2 Ap r2 9 Apr0 6 May 1 4 May 22 M ay 30 M ay06 Jun 13 Ju n20 Ju n2 7 Jun
100 /M Wh
2 .5 T Wh
Source : Platts.
80 /M Wh
2 .0 T Wh
60 /M Wh
1 .5 T Wh
40 /M Wh
1 .0 T Wh
20 /M Wh
0 .5 T Wh
0 /MWh
0 .0 T Wh
4 5 6 7 8 9 1 01 112 1 2 3 4 5 6 7 8 9 101 11 2 1 2 3 4 5 6 7 8 9 101 11 2 1 2 3 4 5 6
2 007
2 008
APX - Volu me
200 9
APX ba se pri ce
201 0
APX pe ak pri ce
Source : Platts.
120 /M Wh
6.0 TWh
100 /M Wh
5.0 TWh
80 / MWh
4.0 TWh
60 / MWh
3.0 TWh
40 / MWh
2.0 TWh
20 / MWh
1.0 TWh
0 /MWh
0.0 TWh
4 5 6 7 8 9 101112 1 2 3 4 5 6 7 8 9 101112 1 2 3 4 5 6 7 8 9 101112 1 2 3 4 5 6
2007
2008
EPEX FR - Volume
2009
EPEX FR - base pri ce
2010
EPEX FR - peak pri ce
Source : Platts.
6 /MWh
4 /MWh
2 /MWh
0 /MWh
-4 /MWh
-6 /MWh
-8 /MWh
-10 /MWh
01 Apr 08 Apr 15 Apr 22 Apr 29 Apr 06 May13 May20 May27 May03 Jun 1 0 Jun 17 Jun 24 Jun
Source : Platts.
Belgium
Baseload price differential between
the French and the German Day Ahead markets
Q2 2010
2 0 / MWh
1 5 / MWh
1 0 / MWh
5 /MWh
0 /MWh
-5 /MWh
-1 0 /MWh
0 1 Apr08 Ap r15 Apr2 2 Apr29 Apr06 May14 May22 M ay3 0 May06 Jun13 Jun20 Jun2 7 Ju n
Source : Platts.
1 20 /MWh
1 .6 T Wh
1 .4 T Wh
1 00 /MWh
2.5 /MWh
1 .2 T Wh
8 0 /MWh
1 .0 T Wh
6 0 /MWh
2.0 /MWh
0 .8 T Wh
1.5 /MWh
0 .6 T Wh
4 0 /MWh
1.0 /MWh
0 .4 T Wh
2 0 /MWh
0 .2 T Wh
0 /MWh
0.5 /MWh
0 .0 T Wh
4 5 6 7 8 9 1 0 1 21 2 3 4 5 6 7 8 9 10 121 2 3 4 5 6 7 8 9 10 1 2 1 2 3 4 5 6
200 7
2008
BPX - Volu me
200 9
BPX base p ri ce
2 010
0.0 /MWh
Source : Platts.
-0.5 /MWh
01 Apr 08 Ap r 15 Apr 23 Apr 30 Apr 0 7 May14 May21 May2 8 May04 Ju n 11 Jun 1 8 Jun 25 Jun
Source : Platts.
4 /M Wh
2 /M Wh
0 /M Wh
-2 /M Wh
-4 /M Wh
-6 /M Wh
-8 /M Wh
-10 /MWh
01 Apr 08 Apr 15 Apr 23 Apr 30 Apr 07 M ay14 May21 M ay28 May04 Jun 11 Jun 18 Jun 25 Jun
Austria
The monthly day-ahead traded volume
continued to hit record high levels in June
2010 on the Austrian EXAA power
market, totalling 0.52 TWh. It seems that
the increasing trend of traded volume that
began in the last months of 2008 is still on
its way. This record-high value is still only
about 9% of the Austrian monthly gross
electricity
consumption.
This
is
significantly lower than the respective
value on the German market, highlighting
that the majority of Austrian power trading
is carried out on the EPEX market.
2 0 /MWh
1 5 /MWh
1 0 /MWh
5 /MWh
0 /MWh
-5 /MWh
-1 0 /M Wh
-1 5 /M Wh
0 1 Ap r 08 Ap r 1 5 Apr 2 2 Ap r 3 0 Ap r 0 7 May1 4 M ay 21 May 2 8 May 0 4 Ju n1 0 Jun1 6 Jun2 2 Ju n2 8 Jun
EXAA : AT
Monthly volumes and prices
Source : Platts.
120 /M Wh
0 .6 0 TWh
100 /M Wh
0 .5 0 TWh
80 /M Wh
0 .4 0 TWh
60 /M Wh
0 .3 0 TWh
40 /M Wh
0 .2 0 TWh
20 /M Wh
0 .1 0 TWh
0 /MWh
0 .0 0 TWh
4 5 6 7 8 9 101 112 1 2 3 4 5 6 7 8 9 1 01 11 2 1 2 3 4 5 6 7 8 9 10 111 2 1 2 3 4 5 6
2 00 7
2 008
EXAA Vo lum e
2009
EXAA b ase p rice
2 01 0
EXAA pe ak price
Source : Platts.
45 /MWh
40 /MWh
35 /MWh
30 /MWh
25 /MWh
20 /MWh
15 /MWh
10 /MWh
5 /MWh
0 /MWh
01 Apr 08 Apr 15 Apr 22 Apr 30 Apr 07 M ay14 M ay21 M ay28 May04 Jun 11 Jun 18 Jun 25 Jun
Source : Platts.
35 TWh
60 / MWh
30 TWh
50 / MWh
25 TWh
40 / MWh
20 TWh
30 / MWh
15 TWh
20 / MWh
10 TWh
10 / MWh
5 TWh
0 /M Wh
0 TWh
4 5 6 7 8 9 101112 1 2 3 4 5 6 7 8 9 101112 1 2 3 4 5 6 7 8 9 101112 1 2 3 4 5 6
2007
2008
Nordpool - Volume
2009
2010
Source : Platts.
Source : Nordpool
10 /M Wh
5 /MWh
0 /MWh
-5 /MWh
-10 /M Wh
30/06/2010
27/06/2010
24/06/2010
18/06/2010
21/06/2010
15/06/2010
09/06/2010
12/06/2010
06/06/2010
03/06/2010
28/05/2010
31/05/2010
25/05/2010
19/05/2010
22/05/2010
16/05/2010
13/05/2010
07/05/2010
10/05/2010
04/05/2010
28/04/2010
01/05/2010
25/04/2010
19/04/2010
22/04/2010
16/04/2010
13/04/2010
-15 /M Wh
07/04/2010
10/04/2010
04/04/2010
01/04/2010
Source : Nordpool
10 / MWh
0 /M Wh
-10 /MWh
-20 /MWh
-30 /MWh
-40 /MWh
-50 /MWh
4 5 6 7 8 9 101112 1 2 3 4 5 6 7 8 9 101112 1 2 3 4 5 6 7 8 9 101112 1 2 3 4 5 6
2007
2008
2009
2010
Price diff DK East - NP System Price diff DK West - NP System Price diff FI - NP System
Price diff NO avg - NP System Price diff SE - NP System
Source : Nordpool
Apennine Peninsula
Italy
Source : Nordpool
2 5 TWh
1 20 /M Wh
2 0 TWh
1 00 /M Wh
1 5 TWh
8 0 /M Wh
6 0 /M Wh
1 0 TWh
4 0 /M Wh
5 T Wh
2 0 /M Wh
0 /MWh
0 T Wh
4 5 6 7 8 9 10 111 2 1 2 3 4 5 6 7 8 9 1 01 112 1 2 3 4 5 6 7 8 9 101 112 1 2 3 4 5 6
2 007
IPEX vol um e
200 8
200 9
IPEX DA system p eaklo ad p ri ce
2 01 0
IPEX DA sy ste m b aselo ad pri ce
Source : Platts.
* Trade on Italian (IPEX) and Iberian (OMEL) electricity
markets is incentivised by regulatory means.
4 0 / MWh
3 5 / MWh
3 0 / MWh
2 5 / MWh
2 0 / MWh
1 5 / MWh
140 /M Wh
120 /M Wh
100 /M Wh
80 /M Wh
60 /M Wh
40 /M Wh
20 /M Wh
0 /M Wh
4 5 6 7 8 9 10 1112 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 1011 12 1 2 3 4 5 6
2007
2008
Nat ional price
NORD
2009
SUD
SARD
2010
SICI
1 0 / MWh
5 /MWh
0 /MWh
01 Apr 08 Apr 1 5 Apr 22 Ap r 29 Apr 06 May13 May20 May27 May0 3 Jun 10 Jun 17 Jun 2 4 Jun
Source : Platts.
25 TWh
70 /MWh
20 TWh
60 /MWh
50 /MWh
15 TWh
40 /MWh
10 TWh
30 /MWh
20 /MWh
5 T Wh
10 /MWh
0 /MWh
0 T Wh
4 5 6 7 8 9 10111 2 1 2 3 4 5 6 7 8 9 101112 1 2 3 4 5 6 7 8 9 101112 1 2 3 4 5 6
2007
2008
Volum e - PT
2009
Vol um e - ES
Bsl - ES
2010
Bsl - PT
Source : Platts.
* Trade on Italian (IPEX) and Iberian (OMEL) electricity markets
is incentivised by regulatory means.
Base-load prices on the Portuguese dayahead market followed closely the Spanish
prices. However, an average discount of
less than 1/MWh could be observed
compared to the Spanish market. Monthly
traded volume data were stable during the
second quarter of 2010 on both markets (a
Source :
Ministerio de Medio Ambiente, y Medio Rural y Marino,
Gobierno de Espaa
Source : Platts.
5 /MWh
0 /MWh
-5 /MWh
-10 /MWh
-15 /MWh
2.66
2.64
-20 /MWh
01 Apr12 Apr19 Apr26 Apr03 May 11 May 19 May 27 May03 Jun10 Jun17 Jun24 Jun
2.62
2.60
Source : Platts
2.58
2.56
2.54
2.52
01 Ap r 1 2 Apr 19 Ap r 2 6 Apr 0 3 M ay10 May1 7 M ay24 May3 1 M ay0 7 Jun 1 4 Ju n 21 Jun 28 Ju n
4 /MWh
2 /MWh
0 /MWh
-2 /MWh
-4 /MWh
-6 /MWh
-8 /MWh
-10 /MWh
-12 /MWh
01 Apr08 Apr15 Apr22 Apr29 Apr 07 May15 May23 May31 May07 Jun14 Jun21 Jun28 Jun
8 /MWh
6 /MWh
0 .2 0 TWh
4 /MWh
0 .1 8 TWh
2 /MWh
120 /MWh
0 .1 6 TWh
100 /MWh
0 /MWh
0 .1 4 TWh
-2 /MWh
0 .1 2 TWh
80 / MWh
-4 /MWh
0 .1 0 TWh
-6 /MWh
60 / MWh
0 .0 8 TWh
0 .0 6 TWh
40 / MWh
-8 /MWh
01 Ap r 12 Ap r 19 Ap r 26 Ap r 0 4 M ay1 1 M ay1 8 M ay2 6 M ay0 3 Ju n 10 Ju n1 7 Ju n 2 4 Ju n
0 .0 4 TWh
20 / MWh
0 .0 2 TWh
0 /MWh
Source : Platts
0 .0 0 TWh
4 5 6 7 8 9 10111 2 1 2 3 4 5 6 7 8 9 1 01 112 1 2 3 4 5 6 7 8 9 101 11 2 1 2 3 4 5 6
2007
2 008
APX UK Vol ume
2 00 9
2010
UK DA Ba se _ Pl atts Assm t
15 / MWh
10 / MWh
5 /MWh
Romania
0 /MWh
-5 /MWh
-10 /MWh
NL cl n sprk spot
Greece
Both base-load and peak-load day ahead
power prices showed a sudden jump in
April on the Greek market while in May
and June they began to return to their
levels closer to those of earlier months.
Source : Platts.
* Trade on the Greek mandatory pool (DESMIE) is incentivised
by regulatory means.
25 /MWh
20 /MWh
15 /MWh
10 /MWh
5 /MWh
0 /MWh
-5 /MWh
-10 /MWh
-15 /MWh
0 1 Ap r08 Ap r1 5 Apr2 2 Ap r2 9 Ap r 07 May1 5 M ay23 May3 1 M ay0 7 Jun14 Ju n21 Ju n2 8 Ju n
40 /MWh
30 /MWh
20 /MWh
10 /MWh
50 /MWh
0 /MWh
40 /MWh
-10 /MWh
30 /MWh
-20 /MWh
20 /MWh
-30 /MWh
01 Apr08 Apr15 Apr22 Apr29 Apr 07 May 15 May 23 May 31 May07 Jun14 Jun21 Jun28 Jun
10 /MWh
0 /MWh
-10 /MWh
-20 /MWh
01 Apr08 Apr15 Apr22 Apr29 Apr 07 May 15 May 23 May 31 May07 Jun14 Jun21 Jun28 Jun
45 /MWh
40 /MWh
120 /bbl
35 /MWh
100 /bbl
30 /MWh
80 /bbl
25 /MWh
20 /MWh
60 /bbl
15 /MWh
40 /bbl
Brent crude FM 12
NBP FY01
20 /bbl
5 /M Wh
0 /b bl
0 /M Wh
1 2 3 4 5 6 7 8 9 10 12 1 2 3 4 5 6 7 8 9 10
2007
2008
12 1 2 3 4 5 6 7 8 9 10
2009
12 1 2 3 4 5 6
2010
Source : Platts.
Source : Platts.
Source : Platts.
Source : Platts.
17. 0 / t CO2e
16. 0 / t CO2e
15. 0 / t CO2e
14. 0 / t CO2e
13. 0 / t CO2e
ECX 2010
ECX 2011
E CX 2012
12. 0 / t CO2e
A pr/10 Apr/10 A pr/10 A pr/10 May/10 May/10 May/10 May/10 Jun/10 Jun/10 Jun/10 Jun/10 Jun/10
Source : Platts.
10
Source : Platts.
Source : Eurostat
Range for annual consumption of :
Household band Da : [0 kWh 1.000 kWh] ;
Industry band Ia :
[0 MWh 20 MWh]
Note. Data for Austria and the Netherlands are not available
Source : Eurostat
Range for annual consumption of :
Household band Da : [0 kWh 1.000 kWh] ;
Industry band Ia :
[0 MWh 20 MWh]
Note. Data for Austria and Italy are not available
Source: VaasaEtt
Notes
1)Range for annual consumption of :
Household band Dc : [2.500 kWh 5.000 kWh] ;
Industry band Ic :
[500 MWh 2.000 MWh]
2) The purchasing power standards (PPS) data for all Member
States are provisional.
Source : Eurostat
12
20
TWh
15
10
Notes
1) Only EU Member States are taken into account
2) Positive values designate higher position in the price ranking
order, meaning that the given country's prices rose faster (or
decreased less) than the average of the EU-27, otherwise said
the given country became more expensive compared to the other
ones, as measured against the previous semester (second half of
2008)
Source : Eurostat
Apr-07
May-07
Jun-07
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Source : ETSO
Note. Data for IE, MT and CY are missing. Data for EE, LT and
LV are available since September 2008. Data on physical flows
from and to LU is incorporated in LU's neighbouring countries :
DE, BE, FR. Data for a number of Member States is still partial,
particularly for Member States in the South East European
Region.
Source : ETSO.
European countries are grouped in the following regions :
Central Western Europe
DE, NL, FR, BE, AT, CH
Nordic
SE, FI, DK, NO
Apennine peninsula
IT
Iberian peninsula
ES, PT
Central Eastern Europe
PL, CZ, HU, SK
South Eastern Europe
SI, GR, BG, RO, HR, AL,
FYROM, RS
British Isles
UK
Baltic
EE, LT, LV
14