That improves the outlook for gas-fired generators after a disappointing 2018, which saw gas-fired output across EU4 markets fall by 4 GW compared to 2017, TSO data showed.Ĭoal output was also down, although German coal plants registered a rebound this winter with clean dark spreads still just ahead of clean spark spreads even for lower efficiency coal units.įor 2019, coal demand across Western Europe is seen stable following two years of sharp declines, with anticipated coal plant closures less pronounced than in previous years. "We see significant gas price falls vs 2018 due to high LNG and storage back to normal," raising the potential for coal-to-gas switching in summer 2019, Platts Analytics head of power Glenn Rickson said. A full year at this sustained level, or higher as many analysts expect, would further support power prices.Ī potential mitigating factor would be cheaper feedstocks, with gas and coal prices already coming off multi-year highs on the back of a more bearish global energy complex. Power prices across continental Europe's four biggest markets (EU4) are set to average around Eur58/MWh ($65.74/MWh) in 2019 versus Eur54/MWh in 2018 and Eur37/MWh back in 2016, according to November 30 forecasts from S&P Global Platts Analytics.Ī key driver of power price inflation this year has been rising CO2 costs, with EU Allowances tripling in value over the last 12 months. Receive daily email alerts, subscriber notes & personalize your experience.
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