Daily (20.04.2017): French spot power price up by 5.3% after snow disaster

20/04/2017 15:34 Daily

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Oil prices fell on Wednesday as a cut in Saudi crude exports was denied by Saudi refiners, having processed more crude oil that potentially could enter the market. 

Brent crude settled down 3.57% at $52.93 a barrel while U.S. WTI crude prices declined even beyond by 3.76%, closing at $50.44 per barrel. 

 

British wholesale gas prices weakened on Wednesday due to a slightly oversupplied system. Another factor was the expected arrival of Al Samriya LNG tanker at the UK's South Hook LNG terminal from Qatar. Win2017 contract price has lost 1.43% to end the session at 46.63 p/therm. NBP spot price settled down 0.76% at 39.20 p/therm.

 

French spot power strengthened on Wednesday as average temperatures are expected to decrease by 0.8 degree Celsius on Thursday and as wind power production could decline, with the French spot contract hitting its highest level since March, having jumped by 5.3% at 40.32 euros per MWh. Meanwhile, the French Cal '18 benchmark price settled at 35.73 euros per MWh.

 

The German spot contract price insignificantly rose by 0.41% to arrive at 37.18 euros/MWh, due to expectations of a decline in wind power production. The German Cal '18 benchmark price increased 1.5% at 30.39 euros/MWh. 

 

EU carbon price for Dec 2018 delivery dropped again by 0.6 percent on Wednesday due to strong UK auction, settling at 4.87 euros/ton. 

Daily (21.06.2017): UK spot gas price jumped by almost 10% on Tuesday

21/06/2017 09:55:00

Oil prices tumbled to seven-month lows on Tuesday on news about increasing oil supplies from several key producers. The market is bearish and traders seem happy to keep selling into every rally, as stated by markets analysts at Forex.

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UK: Ofgem will reduce subsidies for small power generators

20/06/2017 15:10:00

Britain’s energy regulator Ofgem declared on Tuesday it will cut subsidies to several small electricity producers that offer back-up during peak demand. According to Ofgem, this move would reduce household electricity bills by around 20 pounds a year, since the cost of the subsidies is included in overall network fees charged to power companies, which these pass on to consumers.

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Centrica is closing UK’s largest natural gas storage site

20/06/2017 14:40:00

Centrica Storage Ltd (CSL) declared on Tuesday about its intention to stop storage operations at Rough. The energy supplier wants to permanently end Rough's status as a storage facility. Nevertheless, the company plans to produce all recoverable gas from the gas field, which is anticipated at 183 billion cubic feet (bcf).

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