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Daily: European spot power prices mixed on warmer weather in Germany, colder in France
Crude oil prices settled slightly higher on Wednesday, but gains were slashed by lower oil demand growth previsions and solid supplies. Spot Brent crude oil futures ended 53 cents higher at $103.49 after trading as high as $104.10. Brent contract for July delivery expires on Thursday. August Brent crude oil futures closed the day at $103.56, up 59 cents. Meanwhile, front-month U.S. crude oil futures settled 50 cents higher at $95.88.
read more... 13/06/2013
Germany: Angela Merkel wants to curb renewables incentives
The German Chancellor Angela Merkel unveiled at an energy conference in Berlin on June 12 a U turn in the German renewable energy policy, as she aims to curb the renewable energy incentives in favor of power grid modernization and lower pressure on the rising electricity prices.
read more... 13/06/2013
Daily: German year-ahead power prices at 8-year low as coal, oil market decline
Brent crude rose towards $105 per barrel on Monday after United States showed optimistic hiring figures, but not enough to incite fears about near-term tampering of the Federal Reserve’s massive stimulus. Meanwhile, Brent oil climbed 6 cents to $104.62 a barrel by 05:07 GMT, after hitting $104.76 earlier. U.S. oil rose 9 cents to $96.12 per barrel.
read more... 11/06/2013
Spain to reduce subsidies to renewables
Spain government has recently announced it intends to reduce renewable subsidies by 10-20% by 21 June. The decision came following a meeting between representatives of Spanish and foreign banks and industry officials last month, when it was concluded that government subsidies increased the costs for the functioning of the nation's electrical system, and the costs of running the renewable systems have been higher than the amount of money generated by actual sales of power to households and businesses.
read more... 11/06/2013
Italy: Electricity consumption down 3.4% in May
According to the Italian power grid operator Terna, Italy’s electricity consumption was down 3.4% last month in comparison to the year before, to 25.3 billion kWh. The drop in electricity demand is due to the crisis, but the good news is that Italy now has an abundance of energy, which is reflected positively on prices.
read more... 10/06/2013