Daily (09.01.2019): German spot power contract was 15.9% higher on Tuesday on low wind output

09/01/2019 11:48 Daily


The strong upward evolution in oil prices on Tuesday was caused mainly by OPEC-led crude production cuts. The bullish trend was also backed by signs of progress in U.S.-China trade talks. Officials of the world’s two biggest economies expressed optimism on resolving the dispute. Brent crude soared by 2.4% to $58.72 a barrel, while WTI crude jumped by 2.6% to $49.78 a barrel. 

The later arrival of colder weather contributed to a rise in British wholesale gas prices on Tuesday, despite stronger flows from Norway and higher LNG supply. NBP spot surged by 5.6% to 59.25 p/therm. In the meantime, the Q3 2019 delivery contract closed 1.1% higher at 53.47 p/therm.


European spot electricity prices were mixed on Tuesday. Weaker wind output, colder weather and  higher demand in Germany, led to a 15.9% jump in the day-ahead electricity contract to 40 EUR/MWh. The equivalent French contract was almost constant at 57.76 EUR/MWh, on stable nuclear availability.


On the forward electricity curve, prices rebounded on Tuesday, tracking the upward trend in fuels and carbon prices. German electricity contract for delivery in 2020 edged 1.5% higher at 48.57 EUR/MWh. The equivalent French contract traded 1.2% up at 51.64 EUR/MWh.


European carbon prices recouped losses on Tuesday after the Monday’s sell-off. The 2019-expiry contract settled 0.6% higher at to 22.84 euros a tonne, but gains were limited by a bearish sentiment.

France maps 10GW offshore wind vision

17/06/2019 11:07:00

French environment minister Francois de Rugy has outlined today how France intends to meet its new 10GW offshore wind target by 2028.


Britain commits to goal of net zero carbon emissions by 2050

17/06/2019 11:01:00

British Prime Minister Theresa May set a goal for the nation to reach net zero carbon emissions within about 30 years - the 1st major economy in the world to set that kind of goal.


Daily (17.06.2019): German spot power price dropped by more than 26% on Friday due to lower than expected demand

17/06/2019 10:47:00

Oil prices rose on Friday, after attacks on two oil tankers in the Gulf of Oman increased supply concerns. Prices were tempered by worries that trade disputes will lead to higher global oil demand. Brent oil rose $0.7, or 1.1% to $62.01 a barrel. WTI crude surged by $0.23, or 0.4% to $52.51 a barrel.