Page 113 - Annual Report KELAG Group 2018
P. 113

were  on  an  even  higher  level  (price  increase  of  44%  for   The forward rates quoted on the Austrian electricity market
                    base-load  electricity  and  40%  for  peak-load  electricity).   for  the  years  2020  and  2021  will  be  influenced  in  the
                    Thus, forward contracts in 2018 for the delivery year 2019   medium term by numerous factors making an impact in
                    increased to EUR 46.6 per MWh on average for base-load   potentially  different  ways.  In  particular,  the  reform
                    electricity and EUR 56.8 per MWh for peak-load electricity.   measures for European emissions trading and the expected
                    Compared to 2017 (joint bidding zone with Germany), this   closure of additional coal-fired power plants in Germany in
                    is a price increase of EUR 14.2 MWh for base-load electricity   the context of efforts to protect the climate, for example,
                    and EUR 16.3 per MWh for peak-load electricity. Since mid-  are  expected  buoy  prices.  On  the  other  hand,  the
                    2018,  there  has  been  a  sustained  increase  in  electricity   uncertainty  surrounding  the  current US  trade  policy  and
                    prices on the forward markets. A comparison of the closing   Brexit,  as  well  as  the  apparent  slowing  of  the  global
                    price for base-load electricity at the end of December 2018   economy, could weigh on electricity prices. From today’s
                    on  the  forward  markets  for  the  delivery  year  2019   perspective,  the  development  of  electricity  prices  is
                    (EUR 58.25 per MWh) with the average price for forwards   expected to be stable overall in the medium term.
                    from 2017 (EUR 32.4 per MWh) shows an increase of 80%.










                    300,0%


                    250,0%
                                      Coal                       Oil
                    200,0%


                    150,0%

                    100,0%
                                                       Electricity
                     50,0%

                      0,0%
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