LONDON, March 15, 2011 /PRNewswire/ -- Prices on Europe's largest power market spiked violently on Tuesday morning in response to 25% of Germany's nuclear capacity coming off line. The decision stems from safety concerns following the series of explosions at Japan's nuclear reactors.

By 12:30 London time, the price of contracts for power delivered in Germany during April, May and June 2011 each posted record gains on Tuesday over Monday's closing price.

April '11 Baseload rose EUR10.05 per megawatthour (MWh) from Monday's close to trade as high as EUR64.25/MWh, May '11 Baseload gained EUR9.50/MWh to trade at EUR64.50/MWh, while June '11 Baseload added EUR7.35/MWh session on session to EUR60.00/MWh.