Energy markets
The central hedging policy of DB Group aims to minimize energy price fluctuations. Our activities are therefore not exposed to the full impact of changes in market prices, at least not in the short term.
Brent oil
Brent crude (USD/bbl) | 2020 | 2019 | Change | |
absolute | % | |||
Average price | 43.2 | 64.2 | –21.0 | –32.7 |
Highest price | 71.8 | 75.6 | – | – |
Lowest price | 16.0 | 52.5 | – | – |
Year-end price | 51.8 | 66.0 | –14.2 | –21.5 |
Source: Thomson Reuters
The annual average price of oil fell significantly in 2020; the slight appreciation of the euro further strengthened the resulting relieving effect on fuel prices in Europe and Germany. These declined by about 10 % compared to the previous year. As a result, the competitive situation of the railways deteriorated compared to personal cars and trucks. At the same time, lower fuel prices resulted in cost reductions in land transport at DB Schenker and in the bus business.
Electricity and emissions certificates
2020 | 2019 | Change | ||
absolute | % | |||
| BASE LOAD POWER (FOLLOWING YEAR) (€/MWH) | ||||
Average price | 40.5 | 48.1 | –7.6 | –15.8 |
Highest price | 50.0 | 53.5 | – | – |
Lowest price | 33.9 | 41.6 | – | – |
Year-end price | 50.0 | 45.0 | +5.0 | +11.1 |
| EMISSIONS CERTIFICATES (€/T CO₂) | ||||
Average price | 24.8 | 24.9 | –0.1 | –0.4 |
Highest price | 33.5 | 30.0 | – | – |
Lowest price | 14.3 | 18.4 | – | – |
Year-end price | 32.7 | 24.6 | +8.1 | +32.9 |
Source: Thomson Reuters
The price effects that emerged in 2020 did not lead to any significant burden on results in the operating business.
