Daily (10.05.2018): European year-ahead power prices surged to new peaks on Wednesday due to bullish energy complex

10/05/2018 11:31 Daily

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Oil prices jumped to new 3½-year highs on Wednesday following U.S. President Trump’s decision to abandon the nuclear deal with Iran and the announcement of stricter sanctions against the OPEC member. Brent crude added $2.36, or 3.2%, to end at $77.21 a barrel. WTI futures traded 3% higher at $71.14 a barrel.

British wholesale gas prices soared on Wednesday tracking the upward trend in the oil markets. NBP spot gained 1.15 pence, or 2.2%, to close at 53.60 p/therm. Meanwhile, Q3 18 delivery contract ended 0.5% up at 53.37 p/therm.


European prompt power prices tumbled on Wednesday due to lower demand and higher wind and solar generation. German day-ahead power price slumped by 31.1% to end at 25.23 euros/MWh. French spot electricity price fell by 36.3% to settle at 24.37 euros/MWh.


Along the forward curve, European electricity contracts soared on Wednesday due to bullish coal, gas, carbon emission and oil markets. German Cal 19’ European benchmark hit a record high,  closing 1.1% up at 40.03 euros/MWh. The French equivalent contract gained 0.8% to 44.81 euros/MWh.


European carbon prices hiked above €14 level on Wednesday, as the flow of short-term supply was tempered and President Trump’s decision to abandon an international nuclear agreement with Iran boosted the wider energy complex. The carbon contract expiring in 2019 traded 3% higher at 14.16 euros/tonne.

Daily (10.08.2018): NBP spot price dropped by 0.5% on Thursday due to an oversupplied system

10/08/2018 11:35:00

Increased trade tensions between U.S. and China will probably lead to a lower demand for crude, weighing down on oil prices. Brent crude slipped by 0.3% to settle at $72.07 a barrel. On its turn, WTI crude edged 0.2% lower to 66.81 a barrel.

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10/08/2018 08:47:00

French renewable energy company Quadran secured 10 projects with a combined capacity of 65MW in France's latest solar auction.

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Scotland provides £5m for oil and gas decommissioning

10/08/2018 08:43:00

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