Daily (12.10.2017): French year-ahead delivery power contract hit a record high, delayed nuclear reactors restarts

12/10/2017 11:14 Daily


Oil prices edged up for the third day on Wednesday as OPEC predictions of higher demand for 2018 and tensions in Kurdistan buyout prices.

Brent crude futures increased by 33 cents, or 0.6 percent, to end at $56.94 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures rose 38 cents, or 0.8 percent, to settle at $51.30 a barrel.


British prompt gas prices dropped on Wednesday as forecasts for warmer weather, robust wind energy production and easing gas demand, led to an oversupplied system. NBP day-ahead gas price fell 2.6 pence, or 5.4%, to 45.75 p/therm. Most of the forward contracts traded slightly higher.


Stormy weather conditions should end in Germany by Friday, reducing high wind power generation volumes, which encouraged the electricity prices in the European wholesale market on Wednesday. German spot electricity price was 26 percent down at 25.38 euros/MWh, while the equivalent French day-ahead price was off 5 percent at 53.04 euros/MWh.

Along the forward electricity curve, more reports about delayed nuclear reactor restarts lifted French contracts. The French power delivery price for 2018 hit a record high of 43.5 euros a megawatt hour (MWh), up 2 percent. The German equivalent contract, a European benchmark, rose 1.6 percent to 35.96 euros.

EU carbon prices were almost flat on Wednesday after surging to a new one-month peak, reinforcing the previous session’s 6% hike ahead of EU lawmaker discussions that could bring a two-year negotiation on ETS reform to an end. The carbon contract expiring in December 2020 closed at 7.62 euros/tonne.

Notice signed to continue contracts to build four VVER-1200 units at the El Dabaa nuclear plant

12/12/2017 16:34:00

Rosatom Director General Alexey Likhachov and Egypt's Minister of Electricity and Renewable Energy Mohamed Shaker agreed to proceed with contracts for the construction of four VVER-1200 units at the El Dabaa nuclear power site.


Baltic Pipe gas pipeline might obtain final approval in late 2018

12/12/2017 14:40:00

The final investment decision (FID) for the natural gas pipeline project between Denmark and Poland, the Baltic Pipe, might be taken no later than December 2018.


Germany on the path to have hydrogen powered trains by 2021

12/12/2017 14:30:00

Rail manufacturer Alstom plans to replace the diesel vehicles of the transport authority Elbe-Weser-Verkehrsbetriebe (evb) with hydrogen-power trains from December 2021.