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

12/10/2017 11:14 Daily

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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.

Daily (19.07.2018): UK gas prices boosted by around 2% on Wednesday, due to strong demand and lower supplies

19/07/2018 13:41:00

Oil prices surged on Wednesday, as U.S. government data pointed out stronger demand for gasoline and distillates. Brent crude climbed 1% higher to end at $72.90 a barrel. Meanwhile, WTI crude also hiked by 1% to $68.76 a barrel, even though U.S. oil production hit a new record of 11 million barrels per day.

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EU and Ukraine in tug of war over Naftogaz unbundling

19/07/2018 09:46:00

The European Commission has repeated its insistence on breaking up the Ukrainian national gas and oil monopoly Naftogaz, separating transmission from production and supply, which the country had agreed to as a condition for receiving massive Western financing. Vice President Maroš Šefčovič, in charge of the EU’s Energy Union, is in talks in Berlin with Russian and Ukrainian counterparts to try to solve disputes over future Russian gas shipments via Ukraine.

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Investment in new nuclear declines to five-year low

19/07/2018 09:39:00

Global energy investment fell for the third consecutive year in 2017, according to the International Energy Agency (IEA). Investment in nuclear power declined by nearly 45% last year to USD17 billion. Although spending on new reactors reached the lowest level in five years, investment on upgrades of existing units increased.

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