Friday May 16, 11:30 AM
RWE says 86 companies took part in 2nd power auction, purchased about 400 MW
ESSEN, Germany (Thomson Financial) - RWE AG (Xetra: 703712 - news) . said that 86 companies have taken part in the company's second power auction, purchasing all of the about 400 megawatts from hard-coal and lignite-fired power plants on offer.
The German utility said the price for the 2009 base-load product was 69.25 euros per megawatt hour, compared with 69.90 eur on the Leipzig-based European Energy Exchange on Friday.
The auction price for a combination of base load and peak-time power was 77.75 euros.
Under the September 2007 agreement with the cartel office that ended a dispute over how to pass carbon dioxide certificate costs to customers, RWE agreed to auction 6,300 megawatts to industrial clients over the next four years, which totals RWE annual sales volume to industrial clients.
The German cartel office at the time said it expects the auction to lead to 'adequate price advantages' for companies taking part in the auction, but declined to detail how far below current market prices it expects auction prices to come in.
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