Economics
No End to Power Rout as Carbon Market Vote Fails: Energy Markets
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Europe’s failure to rescue the region’s carbon market is likely to encourage utilities to burn record amounts of coal, putting power prices in Germany on course for the worst-ever sequence of quarterly declines.
Electricity for next year, the benchmark contract already trading near an almost eight-year low, may drop a further 4.7 percent through June, according to a Bloomberg News survey, extending an unprecedented eight quarters of losses. Coal-fed power generation in Germany rose 16 percent last quarter, Federal Statistical Office data show.