Daily (07.07.2020): The German Cal’21 power climbed to a 20-week high on Monday, keeping the pace with EUAs above 30 Eur

07/07/2020 11:11 Daily


Crude oil futures edged higher on Monday, supported by a string of data showing an economic recovery across the globe and amid improving OPEC+ compliance. However, oil continued to be pressured by the surging coronavirus cases. Hence, Brent crude from September delivery rose by 0.7%, or 30 cents, to settle at $43.10 a barrel. At the same time, U.S. WTI crude settled at $40.63 a barrel, up 1% day-on-day.

Expectations of weaker wind supply and stronger gas for power demand pushed British near-term gas prices higher on Monday. As a result, NBP spot surged by 8% to 14.90 p/therm, while the gas price for August delivery gained 0.8% at 15.23 p/therm. On the curve, the gas price for Q4 2020 delivery increased by 3.2% to 30.71 p/therm, tracking higher oil and carbon prices.

German and French spot electricity prices increased vertiginously on Monday, propelled by lower wind generation and falling nuclear availability. Consequently, the German day-ahead power rocketed at 31.90 EUR/MWh, while the French equivalent contract rallied at 35.09 EUR/MWh.

Year-ahead power prices surged alongside the carbon and oil markets, with the German Cal’21 power 4% higher at 43.40 EUR/MWh, its highest level since February 20. Meanwhile, the French Cal’21 power stood at 48.10 EUR/MWh, posting a 2.6% daily gain.

EUAs expiring in 2021 jumped by 6.4% to test briefly the €30-mark on Monday, the highest level since August amid incessant buying, with traders neglecting a weak auction.

German wind, solar tenders award 384 MW in July

31/07/2020 09:26:00

Projects with a combined capacity of 384 MW secured surcharges in Germany’s tenders for wind and solar power this month, the Federal Network Agency, also known as the Bundesnetzagetur (BNetzA) has announced.


Plans unveiled for €1.6bn gigafactory in France to supercharge growing battery demand

31/07/2020 09:18:00

Production in the gigafactory is scheduled to begin in 2023 with a capacity of 16GWh of battery cells which will later increase to 50GWh


Daily (30.07.2020): European CO2 prices rebounded by nearly 2% on Wednesday tracking a stronger auction in Poland.

30/07/2020 13:19:00

Crude oil prices inched higher on Wednesday, following an unexpected drop in US crude inventories. Consequently, Brent crude rose by 1.2% to $43.75 a barrel, while WTI futures increased by 0.6% to $41.27 a barrel.