CCC doesn't get to lock in those forward prices - EDF does. EDF...

CCC doesn't get to lock in those forward prices - EDF does. EDF buys (not markets) CCC's coal at the prevailing RBCT spot price (which has been declining). EDF then may on-sell the coal "today" for delivery to final customers "tomorrow" (Thus locking in "tomorrow's " price "today"), which may be a higher price than they bought for. "Tomorrow's" price is based on "today's" forward prices. Because EDF bears holding costs and shipping costs between when they buy from CCC and when they eventually deliver, forward prices tend to be in contango (I.e greater than spot). This is how traders like EDF make money... So the forward price curve has no impact on CCC's revenue

Interestingly, mihals table shows that the market is in backwardatiom (forward prices are less than spot (Nov 11) until Q2 2012), which usually suggests that the market expects the spot price to fall further