Daily (13.11.2019): British spot gas price spiked by 6.5% on Tuesday on higher gas-for-power demand

13/11/2019 11:31 Daily


Oil prices nudged down on Tuesday on no new details after Donald Trump’s speech about the China-U.S. trade negotiations  Meanwhile, concerns regarding slower economic growth and weaker oil demand still kept prices under pressure.  Brent crude fell by 0.2% to $62.06 a barrel, while WTI futures edged 0.1% lower at $56.80 a barrel. 

The British day-ahead gas price rose on Tuesday as cold weather increased gas-for-power demand. NBP spot surged by 6.5% to 39.03 p/therm. At the same time, the forward contracts traded lower due to an oversupplied system. The 2020 delivery contract closed 1.3% down at 41.21 p/therm.


European day-ahead power prices added ground on Tuesday. German spot power price surged by 11.6% to 47.08 euros/MWh due to higher power demand. Similarly, the French day-ahead electricity price jumped by 16.6% to 56.49 euros/MWh, to hit their highest level in over 9 months on Tuesday, after French utility EDF sent three nuclear reactors offline for earthquake-related tests this week.
Further along the curve, power contracts fell on Tuesday, tracking the downward evolution in gas and carbon prices. The German 2020 delivery contract ended 1.7% lower at 45.45 euros/MWh. The French equivalent contract closed 1.2% lower at 48.06 euros/MWh. 
European carbon prices had a downward trend on Tuesday reaching a one-month low due to bearish technical indicators and Germany’s plans to cancel major coal volumes during 2020 and 2021. Hence, the 2019-expiry contract traded 3.3% lower at 24.12 euros/MWh.

Daily (14.01.2020): NBP spot 3.7% higher on Monday in a short system

14/01/2020 10:01:00

Oil prices settled down for a fifth session in a row on Monday as traders evaluated the possibility of an oversupply in crude amid fading geopolitical tensions in the Middle East. Brent crude for March delivery declined by 78 cents, or 1.2% to settle at $64.20 a barrel. WTI, the US crude benchmark, settled down 96 cents, or 1.6%, to end at $58.08 per barrel.


France to close Havre coal power plant in April 2021

14/01/2020 09:07:00

France’s 580 megawatt (MW) Havre coal power plant will close on April 1, 2021, the energy ministry said on Friday.


Ørsted starts construction at Borssele 1 and 2 offshore wind farm

14/01/2020 08:59:00

Denmark-based power company Ørsted has started construction at the 752MW Borssele 1 and 2 offshore wind farm, located 22km off the coast of Zeeland province, in the Netherlands.