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

11/01/2019 11:45 Daily

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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 (15.01.2019): Brent crude dipped by 2.5% on weak China import-export data

15/01/2019 11:38:00

Oil prices dropped on Monday as China reported weakening import-export data, which added to persistent concerns about a global growth slowdown. Brent crude plunged by 2.5% to $58.99 a barrel, despite support from OPEC-led output cuts. WTI futures slumped by around 2% to settle at $50.51 a barrel.

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SSE completes £970m Caithness-Moray transmission project in Scotland

15/01/2019 09:31:00

The company said that its subsidiary Scottish and Southern Electricity Networks Transmission (SSEN Transmission) completed the construction, commissioning and energization of the Caithness-Moray project on time and within the allowance approved by Ofgem.

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Importers hike the price of Russian gas in Romania

15/01/2019 09:28:00

WIEE, a company that imports Russian natural gas to Romania, notified its customers about a 2% price hike effective January 1, 2019, local Economica.net reported.

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