LONDON, Dec. 5, 2013 /PRNewswire/ -- Day-ahead electricity prices in Continental Europe increased by nearly 14% in November as colder, calmer weather in late month sparked an increase in demand and prompted a decline in wind power production, according to monthly data just released by Platts, a leading global energy, petrochemicals and metals information provider.

The Platts Continental Power (CONTI) Index* climbed 13.6% in November to EUR50.50 per megawatt hour (/MWh) compared to the October rate of EUR44.44/MWh. Year-over-year the Platts CONTI Index is down 1.4%.

"November was a game of two halves," said Andreas Franke, Platts editor. "The first two weeks were bearish to prices, given the strong output of wind power and the above-average power generation. But colder temperatures in the final two weeks of the month prompted higher demand and drove prices upwards to their highest levels since January this year."

German peak load prices exceeded EUR60/MWh with some hourly prices spiking above EUR100/MWh as wind output all but vanished amid the winter's first cold snap. Overall, wind power generation in November was down 21% from October, while solar output dropped 58% from the prior month.

Working day-ahead baseload power prices in the U.K. also climbed in November, up nearly 6%, as colder weather and longer nights boosted demand for electricity and natural gas. Day-ahead prices in November averaged £51.18/MWh, up 6% from the October average of £48.23/MWh.

The power price rise was roughly in line with natural gas. U.K. day-ahead natural gas prices were up 5% from the prior month and year-over-year they were up 4%.

"The onset of colder weather pushed U.K. gas prices higher even though the system coped easily with increased demand," said Nathan Richardson, Platts editor. "The return of full flows through the Langeled pipeline from Norway reduced concerns of supply tightness, while gas was consistently available via the Dutch BBL line, the St. Fergus Total terminal and from the South Hook LNG terminal."

At Continental Europe's most liquid natural gas trading hub, the Dutch TTF, the average price of day-ahead gas in November was EUR27.22/MWh, up 5% from October and little changed from a year ago.

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

                                                                                                     Nov-13 Oct-13 Nov-12

    CONTI (EUR/MWh)                                                                                   50.50  44.44  51.20

    TTF (EUR/MWh)                                                                                     27.22  25.87  27.25

    U.K. Power (BPS/MWh)                                                                              51.18  48.23  48.73

    U.K. Gas (pence/therm)                                                                            68.33  65.10  65.63

    Source: Platts

    NOTE: All figures are monthly averages of daily day-ahead contract prices as assessed 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 Platts U.K. assessments reflect day-ahead contracts assessed for firm delivery of power on the high voltage network of England, Wales and Scotland, and at the National Balancing Point for gas. The Platts assessments reflect prices as determined between buyer and seller in the open physical markets.

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

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals, metals and agriculture information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the biofuels, carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, shipping and sugar markets. A division of McGraw Hill Financial (NYSE: MHFI), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.

About McGraw Hill Financial: McGraw Hill Financial (NYSE: MHFI), a financial intelligence company, is a leader in credit ratings, benchmarks and analytics for the global capital and commodity markets. Iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.

SOURCE Platts

SOURCE: Platts