German electricity for next year, Europe’s benchmark contract, had its biggest drop in 15 weeks as energy prices fell, signaling lower costs for power stations in Europe’s biggest market.

According to Bloomberg, baseload power for 2012 this week declined 85 euro cents, or 1.4%, to EUR 58.35 (USD 84.74) as of 5:10 p.m. Berlin time. That’s the biggest weekly slide since January 21.

Baseload is delivered around the clock. Coal prices today recouped earlier losses after yesterday plunging along with oil. The region’s benchmark electricity contract is declining after it last month climbed to its highest price since June 2009 as Germany shut reactors for a safety review following the nuclear disaster in Japan.

(Sourced from Bloomberg)