Daily (10.10.2018): German day-ahead power price declined by more than 13% on Tuesday due to high wind output

10/10/2018 11:00 Daily

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Global oil prices rose slightly on Tuesday, on signs of falling crude Iranian exports, before the imposition of a new round of U.S. sanctions. Furthermore, a partial shutdown in production in the Gulf of Mexico, ahead of Hurricane Michael heading towards eastern states sustained the upward trend in prices. 


WTI crude oil price, the U.S. benchmark contract, gained 67 cents on Tuesday, representing a 0.9% increase, and traded at $74.96 a barrel. Meanwhile, the international benchmark Brent crude oil futures rose by 1.3% to $85.00 a barrel. 

British wholesale gas prices were bearish on Tuesday, despite lower flows from Norway and rising oil prices. On the curve, Summer 2019 delivery contract settled 2.1% lower at 62.75 p/therm. Meanwhile, NBP spot price was 1% down at 67.4 p/therm. 


European spot power prices slipped on Tuesday due to the availability of more conventional energy sources and wind generation in Germany and France, while demand curbed in a brief early-autumn temperature spike, forecasted to end next week. The German electricity price for day-ahead delivery slumped by 13.1% to settle at 62.17 EUR/MWh, because of limited solar power generation. Likewise, the French equivalent contract lost 9.5% to 68.04 EUR/MWh, due to tight nuclear output.


Along the forward electricity curve, prices fell due to losses in carbon emissions. The German 2019-delivery contract was at 55.3EUR/MWh, or a decrease of 1.9%. Similarly, the French equivalent Cal’19 contract settled 2.1% lower at 59.7 euros/MWh.

 

The European carbon contracts posted losses on Tuesday following the downward evolution in electricity and gas markets, holding on the previous auction’s retreat from a two-week peak. The contract expiring in 2020 closed 5% down at 22.62 euros per tonne.

Daily (11.12.2019): UK month-ahead gas price down around 2% due to a potential Kiev-Moscow new gas transit deal

11/12/2019 11:07:00

Crude oil prices finished higher on Tuesday, getting a boost after OPEC and its allies decided to deepen oil production cuts by 500,000 bpd, but gains were kept in check as U.S.-China war still puts pressure on demand. Brent crude rose by 9 cents, or 0.1% to settle at $64.34 a barrel on ICE Futures Europe.. WTI crude increased by 22 cents, or 0.4% to close at $59.24 a barrel on NYMEX.

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Ovo takeover of SSE gets go-ahead

11/12/2019 08:41:00

Energy provider Ovo’s David and Goliath £500 million takeover of giant SSE today won the approval of competition regulators.

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Denmark eyes 10GW offshore wind 'islands' in $45bn plan

11/12/2019 08:38:00

Denmark unveiled plans for one or more ‘energy islands’ each supporting at least 10GW of offshore wind at a cost of up to DKr300bn ($44.5bn), in what could be the world’s most ambitious renewable energy scheme to date.

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