• More than 120 registered bidders have taken part in the auctions, buying a total of 2,337 MW over the past two years
• Purchasing tool for major European industry now established
• Next auction in February 2010 for power supplied in 2011
Today’s auction marked the half-way point for RWE power auctions. This four-year initiative of RWE, launched in 2008 and designed to run until the end of 2011, offers industrial customers the opportunity to purchase power in advance for supply in the following year.
More than 120 registered bidders have participated in the previous eight auc-tions, at which a total of 2,337 MW was sold.
Since the minimum price for each auction was calculated according to a fixed method defined by the German Federal Cartel Office, it varied considerably. The primary reasons for this fluctuation were the extremely volatile market prices for CO2 allowances and coal to fuel the power station. The minimum price does not include the amount of free CO2 allowances for the power plant units involved in each auction, which were legally allocated to RWE under the European Emis-sions Trading Scheme. The minimum prices, with one exception in February 2009, were all below the relevant European Energy Exchange (EEX) listings in each case.
At today’s auction, some 265 megawatts (MW) were purchased for supply in the year 2010. The auction, which was conducted by an independent firm of auction-eers and monitored by an independent trustee, once again lasted several rounds.
A price of €48.17 per megawatt hour (MWh) was achieved for the base-load product and €55.03/MWh for the profile product. As a point of reference, at 11 a.m. on the day of the auction, 20 August 2009, the base-load product was being traded on the EEX at €50.75.
The next power auction for delivery in 2011 will be held in February 2010. More information for any interested companies is available from www.rwe-stromauktion.de.
Base load: base load for the supply year
Profile product: combination of power supplied at base and peak-load periods for the relevant supply year
Please direct inquiries to:
T +49 201 12 17 220
M +49 173 290 4104
RWE Supply & Trading GmbH
Supply & Trading Communications
T +49 201 12-23143
M +49 162 284 5155