Daily (11.01.2018): European day-ahead power prices surged by around 16% on Wednesday due to colder weather forecasts

11/01/2018 10:15 Daily


Crude oil prices touched new multi-year peaks on Wednesday as OPEC-led output reductions and increased demand helped to balance the market, but analysts warned of a potential overheating.

Brent crude futures stood at $69.20 a barrel, 38 cents, or 0.6%, above their last close. U.S. West Texas Intermediate (WTI) crude futures settled at $63.57 a barrel, up 61 cents, or 1%. 


British wholesale gas prices surged on Wednesday on forecasts for colder weather. NBP day-ahead gas price increased by 0.10 pence to 54 p/therm. Further along the curve, Summer 2018 delivery contract traded 0.71 pence, or 1.6% higher at 45.92 p/therm. 


European prompt electricity prices for next day delivery soared on Wednesday supported by an expected rise in consumption because of lower temperatures, amid a slump in wind and solar power generation. The German baseload power contract for Thursday delivery gained around 16%, or 6.4 euros to 47.73 euros/MWh. The equivalent French contract was up 6.87 euros at 48.06 euros/MWh.


Along the forward power curve, Germany’s year-ahead Cal’ 19 delivery contract, the European benchmark, edged 1% down at 36.15 euros/MWh. The equivalent French year-ahead contract slipped 0.4 percent to 41.10 euros/MWh.


EU carbon prices gained for a second consecutive day due to a bullish signal from the energy complex and as supply was constrained because of a rare auction-free session.  The carbon contract expiring in 2021 closed 1.3% up at 8.17 euros a tonne.

Russia agrees with four nations to divide resources beneath Caspian Sea

13/08/2018 09:14:00

Iranian President Hassan Rouhani, Azeri President Ilham Aliyev, Kazakh President Nursultan Nazarbayev, Russian President Vladimir Putin and Turkmen President Kurbanguly Berdymukhamedov walk on the embankment of the Caspian Sea following the Fifth Caspian Summit in Aktau, Kazakhstan August 12, 2018.


Nord Stream 2 natural gas pipeline offers 'alternative route' to Danish authorities

13/08/2018 09:08:00

Nord Stream 2 AG has handed in an application and an Environmental Impact Assessment report to the Danish Energy Agency for an alternative route for the 55 Bcm/year twin natural gas pipeline delivering Russian gas to Germany, the company said in a statement.


New solar plant powers cheese processing facility

13/08/2018 08:46:00

A giant solar farm that is powering a cheese processing facility in Northern Ireland has been launched.