Daily (04.11.2019): NBP spot surged by 25.5% on Friday due to lower Norwegian flows and an expected spike in heating demand

04/11/2019 11:34 Daily


Crude oil prices posted robust gains on Friday, stimulated by higher-than-expected U.S. employment data in October and optimism that Chinese factory activity expanded at the fastest rate since 2017. On trade talks side, the U.S. and China are moving closer towards a Phase One trade deal, which might be signed this month. That bullish background sent WTI futures 3.7% up at $56.20 a barrel, while Brent crude hiked by 2.4% to $61.69 a barrel. 

A sharp fall in Norwegian flows via the Langeled pipeline led to an undersupplied system, weighing on British wholesale gas prices on Friday. Moreover, forecasts for colder weather in the coming week raised the prospect of a stronger gas demand for heating. As a result, NBP spot soared by 25.5% to 29 p/therm. On the curve, the contract price for delivery in Q1 2020 climbed by 1.2% to 45.49 p/therm, despite healthy LNG supplies.


European spot electricity prices dipped on Friday, amid reduced demand due to a public holiday in parts of the region. The French day-ahead power contract posted a 14.8% daily loss, trading at 27.48 EUR/MWh, while the German equivalent contract price slumped by 10.5% to 28.38 EUR/MWh. 


Meanwhile, forward power prices turned bullish on Friday, tracking the upward movements in the gas, coal and oil markets. The German Cal 2020 delivery contract edged 0.4% higher at 46.75 EUR/MWh. At the same time, the French equivalent contract price advanced by 0.2%, closing at 49.25 EUR/MWh.


EU carbon prices extended losses on Friday, as a choppy trade offset the bullish stimulus from a strong session and firmer fuel contracts. The contract expiring in 2020 ended 1.3% lower at 25.44 EUR/tonne.

Daily (04.12.2019): Carbon price plummets to a two-week low on Tuesday amid a weak energy complex

04/12/2019 10:47:00

Crude oil prices ended on a mixed note on Tuesday, with Brent hitting its lowest level since Oct.21, while WTI prices increased for a second consecutive session. Brent decreased by 10 cents, or 0.2% to end at $60.82 a barrel, following comments from the U.S. President Trump that a trade deal with China might be delayed, feeding uncertainty over demand. WTI rose by 14 cents, or 0.3%, to close at $56.10 a barrel, extending the 1.4% gain registered on Monday.


Albania, Kosovo agree to set up common energy market

04/12/2019 09:05:00

Kosovo’s power transmission system operator KOSTT said it has signed an agreement with its Albanian peer OST to set up a common energy market of the two neighboring countries.


Edison to build 760MW gas-fired thermoelectric power plant in Italy

04/12/2019 09:00:00

Italy’s Edison is planning to build 760MW natural gas-powered thermoelectric power plant in Presenzano in the province of Caserta, with an investment of €370m ($408m).