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Daily (28.07.2020): European Cal’21 power prices declined to a six-week low on Monday, influenced by a 5% drop in benchmark carbon prices
Crude oil futures rose modestly at the beginning of the week, gaining little support from new stimulus package in the U.S. and weaker dollar. However, the persisting spread of COVID-19 and its impact on the economy, as well as U.S.-China tensions slashed prices gains. Hence, Brent crude added 0.2% to settle at $43.41 a barrel. At the same time, U.S.WTI crude increased by 0.8% to close at $41.60 a barrel.
read more... 28/07/2020
Pivot to ‘green’: Russian gas & nuclear energy giants Gazprom and Rosatom to start producing ‘clean’ hydrogen
Russia’s move away from hydrocarbons took another step forward this week, as the country’s Ministry of Energy announced a roadmap to start producing clean hydrogen by 2024.
read more... 24/07/2020
Belgian wind farm to become ‘world’s first’ to grow seaweed between wind turbines
Seaweed can be used as a low carbon foodstuff or as a sustainable biomass fuel
read more... 20/07/2020
Daily (13.07.2020): Crude oil prices jumped by over 2% on Friday, after IEA raised its oil demand forecasts
British gas prices were bearish on Friday as strong wind output put pressure on gas-for-power demand, leaving the system oversupplied. The day-ahead gas price plunged by 8% to 12.65 p/therm. Further along the curve, the Winter 2020 delivery contract ended 1.6% lower at 34.03 p/therm. European spot power prices lost momentum on Friday, driven down by weaker demand forecasts. The price for the German day-ahead power contract plunged by 21.9% to 28.60 EUR/MWh, while the equivalent French contract settled 22.7% lower at 29.38 EUR/MWh. Meanwhile, forward electricity prices lost ground due to weaker gas prices. The price for the German power contract for delivery in 2020 traded 2.2% lower at 42.01 EUR/MWh, while the equivalent French contract settled 1.4% down at 46.94 EUR/MWh. EU carbon prices continued the upward evolution on Friday as buyers continue to increase volumes amid thin selling. The contract expiring in 2021 rose by 1.5% to 29.34 EUR/tonne.
read more... 13/07/2020
Equinor leads clean hydrogen plus CCS project in UK
Norwegian state-controlled energy company Equinor ASA last week announced it is leading a project in the UK that combines hydrogen production and carbon capture and storage (CCS).
read more... 07/07/2020