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

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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.

Daily (18.04.2019): EU carbon prices climbed by 1.7% on Wednesday, amidst tighter supply and bullish gas prices

18/04/2019 10:46:00

Crude oil prices edged lower on Wednesday, as EIA announced that U.S. crude stocks fell less than anticipated. Meanwhile, OPEC supply cuts and U.S sanctions limited losses. As a result. Brent crude slipped by 0.1% to $71.62 a barrel, while WTI futures traded 0.5% lower at $63.76 a barrel.

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Serbia begins building TurkStream pipeline section

18/04/2019 09:06:00

Serbia has started construction of its section of the TurkStream pipeline to carry Russian natural gas to Europe, the country's Foreign Minister Ivica Dacic said Wednesday.

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DEPA sells gas to Bulgaria at 16 pct less

18/04/2019 09:03:00

Public Gas Corporation (DEPA) of Greece has sold natural gas to Bulgaria at a price 10 percent below the Bulgarian regulated rate and 16 percent below the rate offered to its major clients in Greece, thereby subsidizing industry in the neighboring country.

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