Daily (11.01.2018): European day-ahead power prices surged by around 16% on Wednesday due to colder weather forecasts

11/01/2018 10:15 Daily

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Crude oil prices touched new multi-year peaks on Wednesday as OPEC-led output reductions and increased demand helped to balance the market, but analysts warned of a potential overheating.

Brent crude futures stood at $69.20 a barrel, 38 cents, or 0.6%, above their last close. U.S. West Texas Intermediate (WTI) crude futures settled at $63.57 a barrel, up 61 cents, or 1%. 

 

British wholesale gas prices surged on Wednesday on forecasts for colder weather. NBP day-ahead gas price increased by 0.10 pence to 54 p/therm. Further along the curve, Summer 2018 delivery contract traded 0.71 pence, or 1.6% higher at 45.92 p/therm. 

 

European prompt electricity prices for next day delivery soared on Wednesday supported by an expected rise in consumption because of lower temperatures, amid a slump in wind and solar power generation. The German baseload power contract for Thursday delivery gained around 16%, or 6.4 euros to 47.73 euros/MWh. The equivalent French contract was up 6.87 euros at 48.06 euros/MWh.

 

Along the forward power curve, Germany’s year-ahead Cal’ 19 delivery contract, the European benchmark, edged 1% down at 36.15 euros/MWh. The equivalent French year-ahead contract slipped 0.4 percent to 41.10 euros/MWh.

 

EU carbon prices gained for a second consecutive day due to a bullish signal from the energy complex and as supply was constrained because of a rare auction-free session.  The carbon contract expiring in 2021 closed 1.3% up at 8.17 euros a tonne.
 

Spanish and Moroccan regulation authorities decided to strengthen collaboration

18/01/2018 16:52:00

Spain's Nuclear Safety Council (Consejo de Seguridad Nuclear, CSN) and the Moroccan Nuclear and Radiological Safety and Security Agency (AMSSNuR) have inked a memorandum of understanding (MoU) on enlarged cooperation.

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Global emissions will stabilise by 2030

18/01/2018 16:00:00

Due to major changes in the global energy landscape, especially related to electric vehicles (EVs) and renewable generation, CO2 emissions are expected to be quite the same by 2030.

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China leader in global solar investment in 2017

18/01/2018 10:14:00

The expansion of the Chinese solar energy led global renewable energy investments in 2017.

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