Abundant nuclear supply reduces power prices in Europe

05/08/2010 08:38 Electricity Market

news

European electricity prices fell sharply on abundant supply and low demand.

The price for an MWh in France slipped more than 5 euros moving toward 36.00, an unusual price for working day that is more close to prices registered during weekends and holidays. The prices are under the pressure of the nuclear power supply, which is considerably higher comparing to the same period of 2009, and the cool weather in Europe being the cause for the weak demand for air-conditioning. Some 14,000 MW of the nuclear production capacity in France is offline, comparing to 21,000 MW the last year. The next week some outages in nuclear plants would be removed and new generating capacities would be available. This fact could reduce even more the spot price.

Daily (21.09.2020): German spot power price fell by more than 13% on stronger wind output

21/09/2020 11:25:00

A slide in oil prices was noticed on Friday, as worries about the increasing number of coronavirus infections across the world stalled oil demand. Furthermore, a potential return of oil output from Libya weighed on the oil market. However, a new tropical storm in the U.S. Gulf of Mexico limited losses. Hence, Brent crude slipped by 0.4% to $43.15 a barrel. At the same time, the American WTI dropped by 0.3% to $41.11 a barrel.

<READ MORE

Diesel prices fall again on the back of easing global crude oil prices

21/09/2020 09:11:00

The recent fall in transport fuel prices comes in the wake of softening of global oil prices as an extended run of Covid-19 has depressed demand and created a glut in the market.

READ MORE

Turkey extends renewable energy support mechanism date

21/09/2020 09:03:00

If plant equipment is locally-produced, additional support for five years will be given starting from commission date

READ MORE