FRANKFURT (Reuters) - German utility Uniper (UN01.DE) has sold large volumes of its future German hydropower output as well as Nordic nuclear and hydropower at above-market prices, slides for an analyst call showed on Thursday.
Alongside its first-quarter results, the company disclosed it had sold 55% of its German hydropower output for 2021 and 40% for 2022 at average prices of 49 euros ($52.90) and 51 euros per megawatt hour (MWh) respectively.
It has also sold 70% of Nordic nuclear and hydropower for 2021 and 15% of 2022 output at averages of 28 euros and 23 euros respectively.
Hedge rates of forward production volumes are tracked in the wholesale electricity market as an indication of earnings, to assess future volumes tied up with counterparties, and the value of forward production. [EL/DE]
The German wholesale price for round-the-clock power from all generation sources, that serves as a European benchmark, closed at 35.9 euros for 2021 TRDEBYZ1 on Wednesday, and at 39.9 euros for 2022 TRDEBYZ2, Refinitiv Eikon data showed.
Uniper, which is majority owned by Finland’s Fortum (FORTUM.HE), achieved an average price of 46 euros for German 2020 output and 28 euros for Nordic output in these product categories.
It also operates fleets of coal and gas-fired and some renewable power, forward sales of which were not detailed.
Reporting by Vera Eckert, Editing by Mark Potter