Daily (10.11.2017): German day-ahead power price fell 39% on forecasts of tripled wind generation

10/11/2017 11:24 Daily


Oil prices increased on Thursday, encouraged by supply reductions by major exporters as well as ongoing worries over political developments in Saudi Arabia. 

Brent crude oil ended 44 cents or 0.7 percent up at $63.93 a barrel, still close to Tuesday's intra-day peak of $64.65, which was the highest since June 2015. Meanwhile, U.S. light crude WTI was up 36 cents, or 0.8 percent, at $57.17, near this week's more than two-year peak of $57.69 a barrel.


British wholesale gas prices surged on Thursday on predictions of colder weather over the next two weeks and higher exports to Belgium, tightening supply outlooks. NBP day-ahead gas price jumped by 0.65 pence, or 1.3%, to 52.10 p/therm. On the forward curve, December 2018 gas contract gained 0.70 pence, or 1.3%, to close at 54.51 p/therm. 


Wholesale day-ahead electricity prices tumbled due to forecasts that German wind turbine generation could more than triple. German Friday baseload was off 39 percent at 31.52 euros/MWh. Meanwhile, the French equivalent contract lost 10% to close at 81.30 euros/MWh.
Power curve prices in Europe varied.


German year-ahead power contract traded 0.5 percent lower at 36.90 euros/MWh, on profit-taking from coal-driven rallies earlier this week. The equivalent French contract slightly rose to settle at 42.2 euros.

European carbon prices slumped for a third consecutive day on Thursday, after EU lawmakers settled a preliminary agreement on post-2020 reforms for the market. December 2018 expiry EU carbon permit prices were 2.2% down at 7.58 euros a tonne.

Turkey's National Energy Efficiency Plan welcomed by EBRD

12/01/2018 16:10:00

The European Bank for Reconstruction and Development (ERD) salutes Turkey's National Energy Efficiency Action Plan (NEEAP). It has as a target to reduce 14 percent of primary energy consumption by 2023 and invest almost $11 billion in energy efficiency measures.


Siemens Gamesa will deliver turbines for 500MW offshore wind project

12/01/2018 11:35:00

Siemens Gamesa plans to offer its latest 8MW turbines to a French offshore wind project.


Russia reached record nuclear power production in 2017

12/01/2018 11:05:00

Russia hit an electricity generation record in 2017. According to the state atomic energy corporation Rosatom, the nation produced 6.5 billion kilowatt-hours (kWh) more power from nuclear power plants(NPP).