Daily (11.01.2019): German spot power price fell by 26% on Thursday due to strong wind generation

11/01/2019 11:45 Daily

news

Oil prices edged slightly higher on Thursday, tracking bullish equity markets following comments from the U.S. Federal Reserve chairman. However, gains were capped by waning optimism about the three-day U.S.-China trade talks, as these finalized with no concrete details. Concerns about a potential slowdown in global economy fuelled by weaker Chinese economic data also limited the rally in oil markets. On that background, Brent crude inched 0.4% up to $61.68 a barrel, while WTI futures settled 0.4% higher at $52.59 a barrel.

British gas prices posted modest gains on Thursday, due to colder weather. Moreover, Norway’s oil industry regulator announced production difficulties at several fields and start-up delays, weighing down on flows. NBP spot edged 0.2% up at 58.20 p/therm, while the NBP contract for delivery in Summer 2020 traded 0.6% higher at 49.35 p/therm.

 

European spot electricity prices plunged on Thursday. The German power contract for day-ahead delivery plummeted by 26.2% to 49.92 EUR/MWh on stronger wind output and lower demand. The equivalent French contract price dropped by 5.6% to 65.34 EUR/MWh due to rising temperatures and weaker consumption.


On the forward curve, electricity prices were in a slightly bullish mood, tracking fuels and carbon emission rights prices. German power contract for delivery in 2020 was almost flat at 47.99 EUR/MWh. The equivalent French contract gained 0.6% to close at 51.45 EUR/MWh.
European carbon prices rose above 22 euros on Thursday in a strong session. The 2021-expiry contract closed 0.3% up at 23.22 euros a tonne.


European carbon prices rose above 22 euros on Thursday in a strong session. The 2021-expiry contract traded 0.3% higher at 23.22 euros a tonne.

Daily (18.06.2019): NBP day-ahead climbed by 6.5% on Monday, due to an undersupply in the system and reshuffle of flows

18/06/2019 09:49:00

Crude oil prices declined on Monday weighed by fears of an economic growth slowdown amid international trade disputes between U.S., China and India. However, the recent attack on two oil tankers in the Middle East limited losses. As a result, Brent crude dropped by 1.7% to $60.94 a barrel, while WTI futures lost 1.1% to settle at $51.93 a barrel.

<READ MORE

Scotland grants marine approval to 800-MW Moray West wind farm

18/06/2019 08:42:00

Scotland has given a marine licence to the roughly 800-MW Moray West offshore wind project in the outer Moray Firth Zone, the government announced on Friday.

READ MORE

Serbia's MK Group to build 8.1 mln euro biomass-fired power plant

18/06/2019 08:39:00

Serbian diversified conglomerate MK Group said on Monday that it plans to invest 8.1 million euro ($9.1 million) in the construction of a biomass-fired power plant in Vrbas, in the northern part of the country.

READ MORE