Daily (13.09.2019): Welding anomalies at French nuclear reactors supported spot gas and power prices across Europe

13/09/2019 11:03 Daily

news

Crude oil prices had another bearish day, after Donald Trump denied the possibility of an interim U.S.-China trade deal. Comments by OPEC+ alliance that deeper cuts would not be decided before a meeting in December and ECB’s decision to cut its deposit rate also weighed on prices. Hence, Brent crude dropped by 0.7% to close at $60.38 a barrel, while WTI futures lost 1.2% to settle at $55.09 a barrel.

British wholesale gas prices were mixed on Thursday.Uncertainty over the impact of a cut in flows through the Opal pipeline led to a slight decline in the Q4 2019 delivery contract, which ended 0.3% lower at 45.71 p/therm. However, worries about nuclear plant issues in France lent support to the day-ahead price, which spiked by 2.8% to 26.50 p/therm.

 

European prompt power prices increased on Thursday due to welding anomalies at French nuclear reactors which afected demand in the region. Hence, the German spot power price jumped by 3.3% to close at 39.02 euros/MWh, while the French equivalent contract settled 3.9% higher at 38.84 euros/MWh.

Along the curve, power contracts posted losses on Thursday tracking lower forward gas prices. The German Cal 2020 delivery contract lost 1.5% to close at 50.00 euros/MWh. The equivalent French contract declined by 1.3% to end at 53.00 euros/MWh.

 

European carbon prices rose slightly supported by the ongoing fears of nuclear outages in France ahead of the winter season. The contract expiring in 2021 traded 0.6% higher at 26.43 euros/tonne.

Daily (24.02.2020): Brent down 1.4% on Friday amid fears of accelerated spread of the coronavirus beyond China

24/02/2020 09:59:00

Crude oil futures settled down on Friday as the coronavirus spread accelerated outside China, intensifying concerns about the infection’s repercussions on the economy.

<READ MORE

Czech energy group EPH to buy out Uniper in Schkopau plant

24/02/2020 09:28:00

Czech energy group EPH’s subsidiary Saale Energie will take full control of the Schkopau lignite-fired power plant in Germany after agreeing to buy Uniper’s 58% stake, EPH said on Friday.

READ MORE

CIP reaches financial close on 589MW Changfang, Xidao

24/02/2020 09:24:00

Copenhagen Infrastructure Partners (CIP) has reached financial close on the 589MW wind Changfang and Xidao project off the coast of Changhua County, Taiwan.

READ MORE