Daily (02.06.2020): The British spot gas dived by 5.6% on Monday after the resumption of Russian flows

02/06/2020 09:18 Daily


Crude oil futures diverged on Monday, with Brent crude for August delivery surging by 8.5% to close at $38.32 a barrel amid hopes that OPEC+ producers will meet this week, earlier than previously planned, to discuss about a further extension of output cuts.  Meanwhile, U.S. WTI crude was rather stable at $35.49 a barrel, but under the effect of increasingly hostile relations between the United States and China.

A healthy supply after the resumption of Russian flows via the Yamal-Europe pipeline and warmer weather forecasts for this summer continued to weigh on British gas prices on Monday. Hence, the NBP spot dived by 5.6% to 8.50 p/therm.  On the curve, the gas price for year-ahead delivery shed by 1.6% to 31.66 p/therm. 

Low renewables generation at the start of the week supported day-ahead electricity prices in Europe. As a result, the German day-ahead power price skyrocketed at 28.34 EUR/MWh, while the price for the equivalent contract in France jumped to 20.32 EUR/MWh. 

Year-ahead power prices lost ground on Monday, tracking weaker carbon prices. The German Cal’21 power price declined by 1.4% to 36.61 EUR/MWh, while the French similar contract dropped by 1.2% to 44.64 EUR/MWh. 

EUAs expiring in 2021 fell by 2% to 21.33 EUR/tonne in a thin trading activity on Monday amid a public holiday across Europe and due to market jitters about worsening U.S.-China relations.

Daily (03.08.2020): NBP spot climbed by 5% on Friday, due to higher gas-for-power demand

03/08/2020 11:10:00

Crude oil prices inched higher on Friday, stimulated by a weaker dollar and record high oil supply cuts by US in May. Consequently, Brent crude rose by 1.2% to $43.75 a barrel, while WTI futures increased by 0.6% to $41.27 a barrel.


EU bank provides €35m for EV charging stations in Spain

03/08/2020 09:40:00

The four-year project will see the roll out of 8,500 charging points for EVs and hybrid vehicles


Iberdrola obtains environmental permits for €180m solar pv projects

03/08/2020 09:35:00

Spanish multinational utility Iberdrola has obtained the Environmental Impact Statement (EIS) for four solar photovoltaic plants in the province of Cáceres.