Daily (13.03.2019): NBP spot tumbled by 4% on Tuesday, due to strong wind power output and rising temperatures

13/03/2019 10:24 Daily

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Oil prices inched up on Tuesday, supported by Saudi Arabia's plan to tighten supply in April. A shortage in Venezuelan oil exports due to a power outage also boosted prices. However, gains were limited by rising U.S. crude production. Both Brent and WTI crude rose by 0.1% to $66.67 a barrel and $56.87 a barrel respectively.

British gas prices weakened on Tuesday as strong wind output led to reduced gas demand from power generators. Furthermore, rising temperatures also lent support to prices. NBP spot dropped by 4% to 40.70 p/therm, while the Q2 2019 delivery contract traded 1.9% lower at 40.49 p/therm.

 

European day-ahead power prices plummeted on Tuesday, due to lower demand and rising electricity output from wind turbines. The price for the German spot power contract tumbled by 50.7% to 18.05 EUR/MWh, while the equivalent French contract traded 26.7% lower at 28.88 EUR/MWh.

 

Along the curve, electricity prices posted gains, influenced by higher carbon prices. The price for the German power contract for delivery in 2020 rose by 1.1% to 48.43 EUR/MWh, while the equivalent French contract traded 0.7% up at 51.46 EUR/MWh.

 

EU carbon prices increased slightly on Tuesday, on continued ambiguity around Brexit. The price for the 2019-expiry contract was 0.2% higher at 22.33 EUR/tonne.

Daily (16.05.2019): British forward gas prices rose by almost 2% on Wednesday, tracking the bullish trend in oil prices

16/05/2019 10:36:00

Crude oil prices rose on Wednesday, due to the conflict in the Middle East that could disturb global supplies. Meanwhile, a surprise rise in U.S. crude stocks limited the gains. Brent crude climbed by 0.7% to $71.77 a barrel, while WTI futures settled 0.4% up at $62.02 a barrel.

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Gazprom confirms first gas via TurkStream by December

16/05/2019 09:15:00

Russia's Gazprom expects to send its first gas through the TurkStream natural gas pipeline to Turkey by the end of December, Gazprom's deputy chairman Vitaly Markelov said late Tuesday.

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GE Steam Power and partners synchronize 900MW power unit to Polish grid

16/05/2019 09:03:00

GE Steam Power, Polska Grupa Energetyczna (PGE) and the GE-led consortium partners have synchronized the Opole Unit 6, with 900MW generating capacity, to the Polish grid.

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