Daily (11.02.2019): German spot power prices plummeted by nearly 84% on Friday due to lower demand and rising wind output

11/02/2019 12:00 Daily


Oil prices rose on Friday, due to the modest support from the news that specific trade issues might be resolved between U.S. and China by March 1. Brent oil climbed by 0.8% to $62.10 a barrel. At the same time, WTI crude edged 0.2% up at $52.72 a barrel.

British wholesale gas prices lost ground on Friday due to lower gas-for power demand, amid higher wind power output induced by storm Erik. NBP spot price dropped by 2.7% to 48.50 p/therm. Further along the curve, the NBP contract for delivery in Q2 2019 slumped by 3.1% to 45.64 p/therm.


Lower demand and increased wind power supply led to a dramatic fall in European spot power prices on Friday. The German day-ahead power price plummeted by 83.6% to 6.81 EUR/MWh. The equivalent French contract posted a 28.7% daily loss, settling at 33.78 EUR/MWh, amid stable nuclear availability.


On the curve, forward electricity prices extended losses, tracking weaker coal, carbon and gas prices. The German power contract for delivery in 2020 was 2.5% down at 47.83 EUR/MWh, while the equivalent French contract traded 2.4% lower at 50.56 EUR/MWh.


Friday saw a weak session on the European carbon market, with EUAs retreating under the pressure of the bearish results on key energy markets. The 2020-expiry contract price plunged by 4.7% to 22.79 EUR/tonne.

Italian Eni increases oil & gas production in Kazakhstan

18/02/2019 11:06:00

Italian Eni increased its oil and natural gas production in Kazakhstan by 8.3 % in 2018 compared to 2017, Trendreports with reference to the company’s data.


Brazil okays construction of 1.5 GW from Aug 31 tender

18/02/2019 11:00:00

The Brazilian Minister of Mines and Energy, Bento Albuquerque, announced last week that the construction licenses for 1,572 MW of green projects secured during the August 31, 2018 energy auction have been signed.


Daily (15.02.2019): EU carbon prices slumped by around 6% to hit again a 2-month low on Thursday

15/02/2019 11:38:00

Oil prices surged on Thursday, backed by OPEC-led supply cuts and expectations for a potential end to the U.S.-China trade talks. Brent oil extended a three-day winning streak, posting a 1.5% daily gain to settle at $64.57 a barrel. WTI crude rose less, by nearly 1% to $54.41 a barrel, as gains were limited by the lowest U.S. retail spending data since 2009 which raised worries over slower global economic growth.