Daily (14.06.2018): NBP day-ahead gas price jumped by 3.4% on Wednesday due to an undersupplied system

14/06/2018 14:17 Daily


Increased demand in fuel consumption in the United States and lower crude inventories boosted oil prices on Wednesday. Brent crude futures rose by 1.1% to settle at $76.74 a barrel. U.S. West Texas Intermediate (WTI) crude futures added 28 cents, or 0.4%, to $66.64 a barrel.

An undersupplied system due to maintenance reasons at the Britain-Belgium interconnector resulted in a surge in gas prices on Wednesday.  The July 2018 delivery contract traded 3.2% higher at 56.84 p/therm. NBP spot price soared by 3.4% to close at 55.9 p/therm.

European power prices for day-ahead delivery dropped on Wednesday, due to forecasts for a dip in demand, and higher electricity generation from nuclear and solar power sources.


As average temperature is expected to increase in France and Germany, the power prices for day-ahead delivery decreased by 4.8% and 9.4%, to settle at 45.93 and 43.65 EUR/MWh respectively.


Along the forward electricity curve, prices surged along with bullish oil, gas and carbon markets. The German year-ahead contract ended at 42.3 EUR/Mwh, or up 0.7%. The French equivalent Cal’19 contract edged 0.4% higher at 45.93 euros/MWh.


After the market managed to grip a significant UK auction on Tuesday, EU carbon prices gained ground on Wednesday. The CO2 contract expiring in 2019 hiked by 1.1% to close at 15.54 euros a tonne.

PGNiG extends cooperation with Ukrtransgaz

13/09/2018 08:52:00

PGNiG and Ukrtransgaz renewed the agreement for the storage of natural gas in Ukrainian underground gas storage facilities.


‘Half of Belgium’s power to be renewable by 2030’

13/09/2018 08:49:00

Half of Belgium’s power will be provided by non-hydro renewables by 2030, filling the gap left by nuclear plant closures.


Russia to build nuclear reactors for China & Egypt

13/09/2018 08:44:00

Russia's state atomic energy corporation Rosatom will commission the third and fourth unit of China's Xudabao nuclear power plant (NPP) by 2027-2028 and start construction of the first unit of Egypt's Dabaa NPP in the summer of 2020, according to Aleksei Likhachev, CEO of Rosatom, on Wednesday.