November 29, 2019 / 7:36 AM / 13 days ago

E.ON sold German nuclear power ahead at near-market prices

FRANKFURT, Nov 29 (Reuters) - German utility E.ON said on Friday it had sold forward nearly three-quarters of its nuclear power generation in 2020 and just under half of its 2021 output at prices near the current wholesale market.

* The company has to date also sold some 96% of output in the current year from reactors at its Preussen Elektra unit.

* The 2019 volume was sold at 32 euros ($35.27) per megawatt hour (MWh), according to slides prepared for an analyst call on E.ON’s Jan-Sept. financial results.

* Some 73% of 2020 output was sold at 46 euros, while 45% of 2021 output was sold at 47 euros, the slides showed.

* The over-the-counter price for German round-the-clock power from all conventional energy sources delivered in 2020 closed at 45.8 euros/MWh on Thursday, Refinitiv Eikon data showed.

* Delivery in 2021 closed at 47.4 euros.

* The hedge rates of forward production volumes are tracked by wholesale market traders and analysts to assess volumes tied up with counterparties and the value of future production.

* E.ON retained its Brokdorf, Grohnde and Isar 2 reactors after in a sector asset swap deal transferring minority interests held by Preussen Elektra in the RWE-operated Emsland and Gundremmingen C plants.

* Rivals RWE and Uniper also published some hedge rates as part of recent nine-month earnings reports. ($1 = 0.9073 euros) (Reporting by Vera Eckert, editing by David Evans)

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