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E.ON details forward sales of German nuclear output
August 9, 2017 / 6:33 AM / 4 months ago

E.ON details forward sales of German nuclear output

FRANKFURT, Aug 9 (Reuters) - German utility E.ON hedged forward 94 percent of nuclear power production in 2018 and 42 percent of output in 2019 at its PreussenElektra subsidiary, slides released for analysts’ and press calls on Wednesday showed.

* The 2018 output sold at 27 euros ($31.72) a megawatt hour (MWh) and that in 2019 also at 27 euros.

* By comparison, Thomson Reuters wholesale market prices for German baseload electricity to be delivered in 2018 were at 31.20 euros/MWh and at 28.9 euros/MWh for 2019 at the Tuesday wholesale market close, according to Thomson Reuters data.

* E.ON spin-off Uniper on Tuesday detailed forward sales data for German hydroelectricity and for Nordic nuclear and hydro, and Sweden’s Vattenfall detailed hedges of Nordic power on July 21.

* E.ON operates three nuclear power stations in Germany, Brokdorf, Isar 2 and Grohnde.

* Hedge rates are tracked as an indication of earnings, to assess the size of future volumes already tied up with counterparties, and the value of forward production.($1 = 0.8513 euros) (Reporting by Vera Eckert; Editing by Maria Sheahan)

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