立即注册,

不到 60 秒您即可继续访问:最新资讯提要分析主题和专题大宗商品视频、播客和博客样本市场价格和数据专题报道订阅用户通知和每日大宗商品电子邮件提醒

已有帐户?

登录以注册

忘记密码

请注意:Platts Market Center 订阅用户只能通过 Platts Market Center 重置密码

请在下面输入您的电子邮件 ID,我们将给您发送一封包含您密码的电子邮件。


  • 电子邮件地址* 请输入电子邮件地址。

如果您是高级订阅用户,出于安全原因,我们无法向您发送您的密码。请联系客服团队

如果您是 Platts Market Center 订阅用户,若要重置密码,请转到 Platts Market Center 重置您的密码。

在此列表中
煤炭 | 电力 | 天然气

Analysis: German front-month gas-fired margins negative for 1st time since April

煤炭

Platts Global Coal Alert

Bunker Fuel | 石油 | 原油 | 液化石油气 (LPG) | 石油风险 | 成品油 | 燃料油 | 汽油 | 航油 | 石脑油

appec

电力 | 天然气 | 石油 | 原油

伊拉克电力短缺叠加欧佩克+减产,促使巴格达向伊朗靠拢

Analysis: German front-month gas-fired margins negative for 1st time since April

亮点

Dec clean sparks negative on lower power, higher gas prices

Q1 2020 gas margins competitive, only new coal ahead

Datteln 4, coal closure compensation auctions key for 2020

London — German gas-fired generation margins have turned negative for the front-month for the first time since April, but remain competitive with mid-range coal plants for the year ahead, S&P Global Platts data showed Thursday.

The clean spark spread (CSS) for a 50% efficient gas plant for December fell to minus Eur1.14/MWh after peaking at multi-year highs this summer.

The clean dark spread (CDS) for a 45% efficient coal plant for December, meanwhile, fell to Eur5.44/MWh.

December gas prices have risen to their highest level since March, while December power has lost 10% of its value over the past month.

Further out, gas plant margins for Q1 2020 remain competitive with mid-range coal plants, with the CSSs (50% efficiency) pegged at Eur4.21/MWh for the quarter, while CDSs range from Eur10/MWh (45% efficient plant, of which there is around 8 GW) down to minus Eur1.39/MWh (35% efficient, of which this is barely any plant left online).

Gas-fired generation rose 11% on the year to 66 TWh for the first nine months of 2019, according to industry-wide BDEW data, almost twice as high as the daily generation data excluding units below 100 MW.

Hard coal generation plunged 45% on the year in October as relatively high carbon and low gas prices weighed on coal plant economics, transmission system operator data show. German hard coal output has averaged 5.4 GW so far this year, down 23% on the year and compared with installed capacity of over 20 GW.

COAL CLOSURE COMPENSATION

The government is preparing a draft law for the coal phase-out, set to cut hard coal capacity to 15 GW by 2022.

How much capacity needs to close depends whether the new 1.1 GW Datteln 4 coal plant comes online as planned next summer, as well as ongoing closure applications.

Uniper plans to grid connect the unit in January, despite a recommendation by the coal commission to abandon new coal projects. The company is requesting compensation for the Eur1.5 billion project that started construction in 2007, should the government follow the recommendation.

A leaked draft of the hard coal closure law does not specify such compensation, but instead envisages closure auctions for the requiredvolume to meet the 15 GW cap.

Closure compensation would be awarded in a reverse auction with compensation paid to the lowest bidder per CO2 emissions saved on a recent average basis.

The draft law, which keeps volumes and other details blank, states "commissioning new hard-coal plants is forbidden unless the unit hasbeen fully constructed by the time this law becomes binding."

A spokesman for Uniper told S&P Global Platts last week that testing of the new plant at Datteln continues with "first fire" scheduled for December, following successful pressure tests for the new boiler and coal bunkered on site since October.

Uniper in September extended the closure application for its modern gas-fired CCGT units at Irsching until 2021. It currently sees no viable market prospects for the gas units with 1.4 GW capacity that were commissioned around 2012.

Location is set to play a major role in the first coal closure auctions, with many plants in Southern Germany prevented from permanent closure for grid security reasons.

-- Andreas Franke, andreas.franke@spglobal.com

-- Edited by James Burgess, james.burgess@spglobal.com