Daily (15.03.2019): EU carbon prices rose by around 2% following Brexit votes

15/03/2019 09:56 Daily


Oil prices diverged on Thursday. Brent crude decreased by 0.5% to 64.23 USD/bbl, as lower Industrial output data in China and political uncertainty around the prospect of a delayed Brexit weighed on prices. WTI futures rose by 0.6% to 58.61 USD/bbl, supported by an expected decline in U.S. crude inventories and output, as well as by U.S. sanctions on Venezuela and Iran.

British gas prices fell on Thursday due to weak gas-for-power demand caused by robust wind output. Moreover, stable Norwegian flows, steady domestic production and five LNG cargoes to arrive in the next seven days put more pressure on prices. Consequently, the NBP spot price dropped by 2.3% to 38.63 p/therm. On the curve, the 2020-delivery contract traded 1.8% down at 48.53 p/therm.


European day-ahead power prices plunged on Thursday, as warmer weather and stronger wind generation curbed demand. The German spot power price slumped by 22.5% to 25.21 EUR/MWh. The equivalent French contract price tumbled by 15% to 29.85 EUR/MWh, amid steady nuclear availability and increasing solar power supply. 


Along the forward curve, electricity prices posted gains, influenced by bullish coal and carbon markets. The German power contract for delivery in 2020 closed 1.2% higher at 47.33 EUR/MWh, while the equivalent French contract added 1% to end at 50.31 EUR/MWh.


European carbon prices surged on Thursday, after the ‘no deal’ Brexit was voted down, despite further concerns over UK’s withdrawal and lower gas prices. The contract expiring in 2021 hiked by 2.1% to 23.61 EUR/tonne.


Irish wind hit 37% high in Q1

17/05/2019 09:01:00

Wind’s share in Ireland’s electricity rose 2% to 37% in the first quarter of 2019, compared with the same period in 2018, according to the Irish Wind Energy Association (IWEA).


Lukoil starts operations of two wells at D41 field in Baltic Sea

17/05/2019 08:51:00

LUKOIL has announced the commencement of commercial operation of two wells at D41 offshore field in the Baltic Sea.


Portugal to tender 1.35 GW of solar under new licensing rules

17/05/2019 08:45:00

Portugal's Minister of the Environment, Joao Matos Fernandes, said the government will auction 1.35 GW of solar capacity now that the licensing regime has been changed to allow that.