Daily (06.12.2019): German spot power down 26% on Thursday on strong wind output

06/12/2019 09:46 Daily

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Crude oil prices evolved differently on Thursday, with WTI prices ending flat and Brent slightly up as traders awaited a decision on output from major oil producers. Brent crude rose by 39 cents, or 0.6%, to settle at $63.39 a barrel, after a hike of 3.6% in the previous session. WTI crude remained unchanged at $58.43 a barrel on the NYMEX, after surging by 4.2% the previous day.

A committee of oil producers led by Saudi Arabia and Russia recommended on Thursday that the group increase their current oil production cuts by 500,000 barrels a day.

 

British prompt gas prices tumbled on Thursday amid an oversupplied system due to a milder weather which curbed demand. NBP spot plunged by 12% to 31.15 p/therm. Along the forward curve, the January gas price decreased by 2.5% to 40.01 p/therm, while the gas contract for 2020 delivery lost 2.5% to end at 38.66 p/therm.

 

European spot power prices recorded a sharp decline on Thursday following a strong wind output in Germany and a weaker demand in France. German contract for the day-ahead delivery plunged by 26% to 31.10 EUR/MWh, while the French equivalent contract dipped 18% to 48.78 EUR/MWh.

 

 

Forward contracts also decreased, tracking lower carbon prices. German contract for 2020 delivery declined by 0.7% at 44.34 EUR/MWh, while the French equivalent contract shed 0.3% at 47.76 EUR/MWh.

 

The EUAs expiring in 2020 eased 0.2% at 24.85 EUR/tonne on Thursday, rebounding from an intraday €24-low, with purchasers intervening at levels that have systematically found support over the past two weeks.

Daily (17.09.2020): An unexpected drop in US crude inventories boosted WTI crude by 5% on Wednesday

17/09/2020 13:33:00

Daily (17.09.2020): An unexpected drop in US crude inventories boosted WTI crude by 5% on Wednesday

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Vattenfall repowers Dutch community wind farm

17/09/2020 09:18:00

38MW Jaap Rodenburg will host 10 turbines two of which will be owned by Almeerse Wind

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European geothermal sector joins call for carbon price on heating and cooling

17/09/2020 08:58:00

The European Geothermal Energy Council is advocating for a carbon price to be put on heating and cooling in the European Union. Only with a fair price for all forms of energy and the real cost attached will it be able to reach the ambitions carbon neutral goal by 2050.

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