Page 17 - KELAG Annual Report 2019
P. 17

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
                                                         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
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