Daily (15.08.2019): European spot power prices plummeted by over 21% on Wednesday, amid low demand due to a public holiday in the region and surging wind output

15/08/2019 11:40 Daily


Crude oil prices reversed earlier gains on Wednesday, amid disappointing economic data in China and the Eurozone, particularly in Germany, worsening the crude demand outlook. A surprise increase in the U.S. crude inventories added to the bearish market sentiment. In addition, traders were focused on profit taking after Tuesday’s rise. As a result, Brent crude fell by 3% to $59.48 a barrel, while WTI futures dropped by 3.3% to $55.23 a barrel.

British wholesale gas prices had a strong downward evolution on Wednesday, due to higher flows from Norway via the Langeled pipeline and increased output from the UK Continental Shelf. Furthermore, two LNG vessels are expected in Britain later this month. The NBP day-ahead price plunged by 8.3% to 27.75 p/therm, as forecasts for firmer wind output curbed gas-for-power demand. In the meantime, the contract price for delivery in Q4 2019 tumbled by 2.3% to 44.89 p/therm.


The European spot electricity prices fell sharply on Wednesday, as demand eased on Assumption Day in France and in catholic parts of the region. The price for the French day-ahead power contract dipped by 25.30% to 23.83 EUR/MWh. At the same time, the price for the equivalent German contract sank by 21.3% to 30.50 EUR/MWh, as wind generation was set to rise to nearly gale force levels. 


Along the curve, power prices declined, in response to lower carbon prices and a bearish energy complex. The German power contract for delivery in 2020 lost 1% to close at 48.95 EUR/MWh, amid growing recession fears in Europe’s largest economy. The equivalent French contract posted the same percentage loss, settling at 51.05 EUR/MWh.


The EU carbon prices lost ground after a volatile trading on Wednesday, weighed by a sluggish auction and a weaker energy complex. As a result, the price for the 2019-expiry contract.

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

13/11/2019 11:31:00

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.


France's EDF says no damage found so far at Cruas nuclear plant after earthquake

13/11/2019 09:08:00

Checks carried out by French utility EDF at its Cruas nuclear power plant have revealed no anomalies so far, a company executive said on Tuesday, after it extended outages at three of the facility’s reactors until Nov. 15.


E.ON to purchase 3TWh of clean energy annually from RWE Renewables

13/11/2019 09:05:00

Global energy company E.ON has signed an agreement to purchase clean energy from RWE Renewables’ British windfarms.