Daily (04.06.2020) NBP spot soared by 13.6% on Wednesday as low wind output boosted gas-for-power demand

04/06/2020 10:56 Daily


Crude oil prices stretched gains on Wednesday, on a potential new agreement between OPEC and its allies to cut crude supplies. Nevertheless, a weekly increase in U.S crude inventories supported the bullish trend. As a result, Brent crude increased by 0.6% to $39.79 a barrel. Similarly, WTI futures traded 1.3% higher at $37.29 a barrel.

NBP spot price jumped by 13.6% to 12.50 p/therm on Wednesday, on the back of low wind power generation that increased gas demand used for power. Meanwhile, on the curve, most of the UK gas contracts were bullish tracking a rise in oil prices. Hence, the June 2021 delivery contract traded 1.9% higher at 27.87 p/therm.


European spot power prices lost ground on Wednesday. The German spot power price fell by 7.9% to 26.55 EUR/MWh, due to a sharp rise in electricity output from wind turbines. Similarly, the French day-ahead power price declined by 11.1% to 22.57 EUR/MWh as forecasts showed a drop in French demand.


On the curve, electricity prices added momentum, tracking the upward trend in carbon, gas and oil markets. The German power contract for delivery in 2020 was 1.5% higher at 38.29 EUR/MWh. At the same time, a 1.6% increase was noticed in the equivalent French power contract, which traded at 48.00 EUR/MWh.


EU carbon prices were relatively unchanged on Wednesday, amidst uncertainty about the long-term direction of the energy market. Hence, the price for the 2021-expiry contract closed at 22.08 EUR/tonne.

Nordex to sell 2.7GW European renewables portfolio to RWE for over €400m

04/08/2020 09:21:00

From the overall pipeline, about 1.9GW is present in France in various project phases


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