LONDON, Aug. 2, 2012 /PRNewswire/ -- Continental European day-ahead power prices rose more than 5% month-on-month in July, as reduced nuclear availability in France combined with lower German wind output, according to Platts, a leading global energy, petrochemicals and metals information provider.

The average cost of day-ahead power in Continental Europe as indicated by Platts Conti Index* was EUR45.55 per megawatt hour (/MWh) in July 2012 compared to EUR43.15/MWh in June 2012. The U.K. saw a less marked increase of 2% in day-ahead power prices, supported by the threat of strike action by Norway's North Sea oil and gas workers. Year-on-year, however, both German and U.K. day-ahead power prices in July were down by 11%.

"The stronger prompt in July was a near-term response to events and not a fundamental change in trends," said Henry Edwardes-Evans, Platts European power editor. "Underlying oversupply and poor demand continue to weigh on the curve, with German month-ahead power for instance down 20% year-on-year."

Meanwhile, continental natural gas prices continued to rise in July. Platts price assessments show the average cost of day-ahead natural gas on Continental Europe's most liquid hub, the Dutch TTF, up 2% to EUR24.34/MWh in July compared to EUR23.83/MWh in June. Year-on-year, the average is up 13%.

The U.K. day-ahead natural gas price appears more stable in monthly and yearly analysis, with the average in July 2012 of 55.63 pence per therm (pence/therm) up just 1% on both June 2012 and June 2011.

    Platts Continental Europe and U.K. Day-Ahead Monthly Averages

                                                                  Jul-12       Jun-12       May-12       Jul-11
    CONTI power (Euro/MWh)                                               45.55        43.15        43.28         44.7
    TTF gas (Euro/MWh)                                                   24.34        23.83        24.15         21.5
    U.K. Power (GBP/MWh)                                                 42.84        42.12        44.46        47.88
    U.K. Gas (pence/therm)                                               55.63        55.17        57.06        55.14

NOTES: all figures are monthly averages of day-ahead contracts assessed and published by Platts.

*Platts Continental Power (CONTI) Index is a demand-weighted baseload average of day-ahead contracts assessed in Germany, Switzerland, France, Belgium and the Netherlands. The index reflects prices as determined between buyer and seller in the open market.

For more information on electric power or the methodology used by Platts in its power assessments, visit the Platts website www.platts.com.

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SOURCE Platts

SOURCE: Platts