European wood pellet prices fall despite ban on Russian imports

The price of industrial wood pellets, which are used in power generation, have fallen dramatically in Europe this year despite a ban on Russian material, with UK power generators having consumed less than expected, market participants said. Industrial wood pellets were pegged at more than USD 300/t in early 2023 and close to USD 400/t in the latter half of last year but were now seen as low as USD 170/t, according to market sources. This in part reflected the fact that the UK’s 2.6 GW biomass-fired Drax plant and Czech utility ...