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 (17.01.2019): Carbon prices jumped by over 3% on Wednesday following an oversized Polish auction

17/01/2019 11:05:00

Oil prices edged higher on Wednesday, due to OPEC supply cuts and China’s fiscal stimulus signals. However, gains were capped by increasing U.S. fuel inventories and higher crude oil production. As a result, Brent crude inched up by 1.1% to 61.32 USD/bbl, while WTI futures edged 0.4% higher closing at 52.31 USD/bbl.

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OMV in plans for $6bn initial spend to develop Norway oil discovery

17/01/2019 09:21:00

Austria's OMV and partners plan to invest up to $6 billion initially to develop the Arctic Wisting oil find, Norway's northernmost oil discovery, which could start production within a decade, a senior executive said on Wednesday.

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Spain's Diverxia gets govt nod to develop 240-MW solar park in Colombia

17/01/2019 09:17:00

Spanish developer Diverxia Infrastructure has secured a connection approval from Colombia's Energy Mining Planning Unit (UPME) for a 240-MW photovoltaic (PV) project.

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