Daily (09.07.2019): European spot power prices rose by over 20% on Monday, due to low wind supply and tight nuclear capacity

09/07/2019 10:34 Daily

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Crude oil prices steadied on Monday as Iran’s nuclear program offset worries about global oil demand growth. As a result, Brent crude dropped by 0.2% to $64.11 a barrel, while WTI futures added 0.3% to settle at $57.66 a barrel.

 

British gas prices rose on Monday, on/due to expectations of maintenance at a field in Norway and an extension of the outage at the Nyhamna gas processing plant. As a result, NBP day-ahead soared by 8.4% to 32.20 p/therm, while the contract for Q1 20 delivery closed 1.3% up at 53.99 p/therm.

 

European prompt power prices increased on Monday. The price for the German day-ahead power contract ascended by 25.6% to 37.39 EUR/MWh due to lower wind power supply, while the equivalent French contract settled 21.4% higher at 35.63 EUR/MWh, following tighter nuclear availability.

 

Forward electricity prices also added ground, reflecting higher gas and carbon prices. The price for the German power contract for delivery in 2020 climbed by 2.2% to 50.44 EUR/MWh, while the equivalent French contract traded 1.8% higher at 52.08 EUR/MWh.

 

EU carbon prices were in a bullish mood on Monday, due to increasing power demand and lighter auction volume. As a result, the price for the contract expiring in 2020 rose by 1.7% to 27.17 EUR/tonne.

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.

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Eneco, Shell win Dutch offshore wind tender with 759-MW project

30/07/2020 10:56:00

A joint venture between Dutch utility Eneco and oil and gas major Royal Dutch Shell Plc has won the tender for the third zero-subsidy offshore wind farm in the Dutch North Sea, to be built in the Hollandse Kust Noord zone.

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Assembly of world’s largest nuclear fusion reactor begins in France

30/07/2020 10:49:00

A total of 35 nations are currently collaborating to build tokamak, a magnetic fusion device, which aims to demonstrate the real potential of fusion as a large scale carbon-free source of energy

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