European power prices up in September

European power prices rose in September even though nuclear generation was reduced in France. According to data released by Platts, continental power prices increased 9.38% to €36.15 (£27.01) per megawatt hour […]

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By Jacqueline Echevarria

European power prices rose in September even though nuclear generation was reduced in France.

According to data released by Platts, continental power prices increased 9.38% to €36.15 (£27.01) per megawatt hour (MWh).

However, on a year-over-year basis, it was down 2.45% from the September 2014 level of €37.07/MWh (£27.4), it added.

The power price in the UK rose 3% to £41.73/MWh last month compared to August.

The report stated: “Reduced wind and solar output was offset by more expensive gas-fired power generation. Tighter than expected capacity margins for this time of the year caused surplus plant levels to drop below 6GW on some days.”

Gas prices in the UK stood at 40.9 pence per therm (p/th), 3% up from August but down nearly 15% on a year-over-year basis.

European gas prices from the Dutch Title Transfer Facility – the continental Europe’s most liquid natural gas hub – averaged €19.18/MWh (£14.1) in September.

That’s a 2.2% decline from August and a 7% decrease from the same period a year ago, Platts added.