Page 17 - KELAG Annual Report 2019

metric ton. Due to the agreed commitment of several EU
member states to phase out coal-fired power generation,
the demand in Europe is of declining importance for the
With a total volume of 71.2 TWh, electricity consumption in
price developments on the global market. Instead, the
Austria in 2019 decreased slightly by 0.1% on the
latter will be determined primarily by the development of
comparative period of the prior year. On the production
demand in the Asia/Pacific region. Overall, the demand for
side, there was again an increase in the share of renewable
coal in this region is expected to flatten in light of massive
energy in Austria. For example, the installed wind power
environmental problems.
capacity in the past year increased by 196 MW to a total of
now 3,241 MW.
Bucking the trend on the fuel markets, European emissions
trading in 2019 recorded a significant increase in prices. The
Natural gas consumption nationwide increased in the
mid-year price for an emission allowance was EUR 26 per
reporting period 2019 compared to the corresponding
metric ton of CO2, nearly double the price of the prior year.
period in the prior year, from 3.1% to a total of around 99.0
The structural measures of the EU on decreasing the
TWh. This was primarily attributable to the increase in use
quantities of emission allowances available had a particular
of gas power stations.
impact here.
The price development on the international fuel markets
The splitting of the tariff zone for Austria and Germany
was predominantly negative in 2019. The prices for the
came into effect as of October 2018. From this date
commodities oil, gas and coal were lower than the prices in
onwards, different prices for the Austrian and German tariff
2018.
zones will be listed on the stock exchange.
The price for Brent crude oil was an average of USD 64 per
The price for base-load electricity on the EPEX SPOT in the
barrel. This corresponds to a decrease of around 11% on the
reporting period averaged EUR 40 per MWh in spot trading
comparative period 2018. Overall, it is expected that oil
in Austria; for peak-load electricity, the price averaged
prices will come under further pressure in the coming
EUR 46 per MWh. Compared to 2018 (joint bidding zone
months due to the risks for the global economy stemming
Austria/Germany until October), there was thus a price
from the trade dispute between the US and China as well as
decrease for base-load electricity of around EUR 4 per MWh
from the coronavirus.
and a price decrease of around EUR 5 per MWh for peak-
load electricity.
Gas prices on the spot market (NCG) averaged around
EUR 14 per MWh in 2019 and were thus around 39% below
In the same period, the average price for base-load
the level of the corresponding prior-year period. The gas
electricity in spot trading in Germany was EUR 38 per MWh
market is primarily determined by short-term commercial
and for peak-load electricity, EUR 44 per MWh. Compared
transactions that are independent of oil prices. Only a small
to the prior year, there was thus a price decrease for base-
number of the long-term agreements on gas imports to
load electricity of around EUR 5 per MWh and a price
Europe are indexed to the price of oil.
decrease of around EUR 6 per MWh for peak-load electricity.
The prices for hard coal imports in north-western Europe
The price situation on the forward market in Austria was
averaged USD 71 per metric ton in 2019, around 19% below
marked by a considerable increase in 2019, in the wake of
the average price of the prior-year period of USD 87 per
which the prices for contracts for the subsequent year