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 (04.12.2019): Carbon price plummets to a two-week low on Tuesday amid a weak energy complex

04/12/2019 10:47:00

Crude oil prices ended on a mixed note on Tuesday, with Brent hitting its lowest level since Oct.21, while WTI prices increased for a second consecutive session. Brent decreased by 10 cents, or 0.2% to end at $60.82 a barrel, following comments from the U.S. President Trump that a trade deal with China might be delayed, feeding uncertainty over demand. WTI rose by 14 cents, or 0.3%, to close at $56.10 a barrel, extending the 1.4% gain registered on Monday.


Albania, Kosovo agree to set up common energy market

04/12/2019 09:05:00

Kosovo’s power transmission system operator KOSTT said it has signed an agreement with its Albanian peer OST to set up a common energy market of the two neighboring countries.


Edison to build 760MW gas-fired thermoelectric power plant in Italy

04/12/2019 09:00:00

Italy’s Edison is planning to build 760MW natural gas-powered thermoelectric power plant in Presenzano in the province of Caserta, with an investment of €370m ($408m).