Daily (06.12.2018): Gas and power prices fell on Wednesday: low demand, warm weather and strong wind generation

06/12/2018 11:27 Daily


Oil prices slipped on Wednesday, as President Donald Trump expects steady crude flows. Brent crude price edged 0.8% lower to $62.08 a barrel. Meanwhile, WTI crude fell 0.7% to $52.89 a barrel, as losses were limited by potential cuts in oil production.

British gas prices slumped on Wednesday, mainly due to higher temperatures forecasts and weaker demand. Moreover, stronger wind production weighed down on the demand for gas from power generators. Consequently, NBP spot price decreased by 2.2% to 62.60 p/therm. Q1 2019 delivery contract traded 3% down at 64.59 p/therm.


On Wednesday, a downward evolution was noticed in European spot electricity prices, caused by robust wind generation and lower demand due to warmer weather. In other words, the baseload price in Germany for Thursday delivery tumbled by 7.5% to 54.75 euros/MWh, while the French equivalent contract lost 3.4% to 57.59 euros/MWh.


Electricity prices on the curve also fell on Wednesday, due to a bearish energy complex. The 2019-delivery contract price in Germany dropped by 1.2% to 51.67 euros/MWh. The French equivalent contract was 1.1% lower at 57.26 euros/MWh.


Carbon prices collapsed close to the €20 level on Wednesday, as a weak auction could not provide support. Correspondingly, the carbon contract expiring in 2020 ended 5% down at 20.57 euros a tonne.

German renewables levy to rise slightly in 2020 and peak the year after – think tank

22/08/2019 08:38:00

Germany's renewables levy, the EEG surcharge, is expected to rise slightly from 6.41 cents per kilowatt-hour (kWh) this year to between 6.5 and 6.7 in 2020, according to calculations by think tank Agora Energiewende*. The main reasons for the expected rise are increasing wind power capacity and a declining balance in Germany’s “green energy account”, writes Agora Energiewende.


Ukraine's DTEK to import 400,000 mt of coal from Colombia

22/08/2019 08:34:00

Ukraine's largest producer of power from fossil fuels, DTEK, will import at least 400,000 mt of coal from Colombia within the next few months, Maksym Tymchenko, DTEK general manager, said Tuesday.


Turkey's Akkuyu nuclear plant secures Russian financing

22/08/2019 08:31:00

Sberbank, Russia's state-owned banking and financial services company will provide a $400 million loan for the construction of Turkey's Akkuyu nuclear power station, the bank announced on Wednesday.