News 2005

Cold weather and numerous nuclear outages caused power prices to rise across Europe. In the U.K., 2006 baseload power rose 9% driven by soaring natural gas prices while prices in Germany added 7% to close at an all-time high of EUR 48/MWh. Plese refer to the PDF document link below to view the full ...

In Europe, 3Q reporting season started with the Iberian companies presenting their results: Iberdrola reported numbers in line with consensus (assuming full recovery of the tariff deficit).

In the third quarter EIC’s Net Asset Value per share (“NAV”) remained practically unchanged at CHF 15.82 per share (end of the second quarter: CHF 15.72 per share).

Consolidation remains the key theme within the European utility industry.

Please refer to the PDF document below to view the half year 2005 report for EIC Electricity SA.

In July, the EIC Energy Utility Fund gained 1.5% (in CHF), compared to a 0.7% gain of the benchmark (MSCI World Utilities). Since inception in June 2003, the fund has a performance of 64.2% (benchmark 54.4%). Please refer to the PDF document below to view the full monthly report.

Power prices across Europe continued to rise in June. Baseload power for 2006 delivery rose by 19% in Scandinavia, by 18% in the UK and by 13% in Continental Europe. The main driver for the rise in power prices was the sharp increase in EU emission allowance prices from 19 to 28 Euros per ton during...