March 13, 2019 / 9:49 AM / 6 months ago

E.ON sold German nuclear power forward at below-market levels

ESSEN, March 13 (Reuters) - German utility E.ON said on Wednesday it had sold forward the bulk of its nuclear generation volumes for 2019 and half of those for 2020 at prices below the current wholesale market.

* Some 86 percent of its German nuclear power output in 2019 from three reactors at the Preussen Elektra unit was sold at 31 euros per megawatt hour (MWh), according to slides prepared for an analyst call on full-year results.

* Some 52 percent of 2020 volumes were sold at 45 euros, the slides showed.

* Hedge rates of forward production volumes, to the extent that companies publish them, are tracked by traders and analysts.

* The German wholesale price for round-the-clock power delivered in 2020 is at around 47 euros/MWh, Refinitiv Eikon data shows. Prices are holding up well after sustained rallies on firm fuel and carbon prices in 2018.

* E.ON had sold 2017 output at 32 euros and 2018 output at 26 euros.

* Sector peer Uniper revealed hedge rates for its hydro power at earnings on Tuesday.

* Preussen Elektra will shift to rival RWE under a pending major sector asset swap deal yet to be fully approved and implemented. ($1 = 0.8854 euros) (Reporting by Vera Eckert; Editing by Mark Potter)

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