30.06.2015 07:22:00

EVN AG -- Moody's: Low power prices in Germany keep pressure on generation earnings

London, 30 June 2015 -- Moody's Investors Service expects that German power prices will remain in the range of EUR30-35 per megawatt hour (MWh) to 2020. This compares with around EUR31-32/MWh today, and reflects: (1) new capacity which will shift price-setting from marginal hard coal plants to more efficient ones; (2) Moody's view that coal prices will recover only modestly over the period; and (3) an expectation of broadly flat CO2 prices.

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