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

10/11/2017 11:24 Daily

news

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.
 

Romanian group OMV Petrom declares Brazi power plant is now 100% functional

15/11/2017 13:38:00

Romanian group OMV Petrom declares Brazi power plant is now 100% functional

<READ MORE

Eni and Oman’s OOCEP signed hydrocarbon production agreement

15/11/2017 12:51:00

Eni and Oman’s OOCEP signed hydrocarbon production agreement

READ MORE

New European project aimed at extensive Carbon Capture Storage was launched

15/11/2017 12:40:00

New European project aimed at extensive Carbon Capture Storage was launched

READ MORE