Daily (07.02.2019): EU carbon prices surged by over 2% on Wednesday, buoyed by rising power prices and a gap in the auction calendar

07/02/2019 11:10 Daily


Wednesday saw slight gains in oil prices due to a strong U.S. demand for distillate products and a prevailing shortage in the global crude supply. However, gains were capped amidst a stronger U.S. dollar and persisting concerns over a global economic slowdown. Brent crude was up 1.2% at 62.69 USD/bbl, while WTI crude rose by 0.7% to close at 54.01 USD/bbl.

British spot gas prices added gains on Wednesday, due to maintenance works in the Norwegian gas system that affected supply. NBP spot price climbed by 0.8% to 50.65 p/therm. Along the curve, milder weather forecasts put pressure on prices. The contract for Q2 2019 delivery traded 1.3% lower at 47.43 p/therm.


European spot power prices plunged on Wednesday, following increasing power generation from wind turbines, and relatively mild temperatures.The French day-ahead power price dropped by 9% to 48.21 EUR/MWh, while the equivalent German contract sank by 13.2% to 44.55 EUR/MWh.


On the curve, the market was supported by higher carbon emissions and gas prices. The German power contract for delivery in 2020 traded 2.4% higher at 49.70 EUR/MWh, while the equivalent French contract was up 1.9% at 52.20 EUR/MWh.


European carbon prices rose on Wednesday amidst increasing power prices and a gap in the auction calendar. The price for the 2020-expiry contract traded 2.2% higher closing at 24.12 EUR/tonne.

Daily (16.04.2019): NBP spot plunged by 6.9% on Monday, on milder weather forecasts and new LNG arrivals

16/04/2019 10:34:00

Oil prices reversed trend registering losses on Monday, after having hit recently a five-month high, on signals that Russia could boost production to strengthen its position on the market. Brent crude edged 0.5% lower at $71.18 a barrel, while WTI Crude dropped by 0.8% to $63.40 a barrel.


EU approves €5bn Polish energy scheme, probes surcharge reductions

16/04/2019 09:01:00

The European Commission has approved a €5 billion (£4.3bn) Polish support scheme for co-generated electricity with surcharge reductions for large energy users.


Siemens Gamesa in final talks for 700-MW-plus offshore wind turbine contract

16/04/2019 08:58:00

Siemens Gamesa Renewable Energy SA said Monday it is in final negotiations with Swedish state-owned utility Vattenfall AB to supply turbines for the Hollandse Kust Zuid (HKZ) I & II offshore wind projects in Dutch waters.