Daily (17.06.2019): German spot power price dropped by more than 26% on Friday due to lower than expected demand

17/06/2019 10:47 Daily

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Oil prices rose on Friday, after attacks on two oil tankers in the Gulf of Oman increased supply concerns. Prices were tempered by worries that trade disputes would lead to lower global oil demand. Brent oil rose $0.7, or 1.1%, to $62.01 a barrel. WTI crude edged up by $0.23, or 0.4%, to $52.51 a barrel.

Expected warmer weather alongside with lower residential demand weighed on British wholesale gas prices on Friday. The NBP day-ahead gas price dropped by 1.4 pence, or 4.6%, to 29.25 p/therm. Meanwhile, Winter 2019 delivery contract settled 1.3% lower at 51.42 p/therm.

 

European power prices fell on Friday due to forecasted lower demand. The German day-ahead electricity price tumbled by 26.5% to 30.58 euros/MWh. The French spot power price sank by 19.5% to 27.79 euros/MWh.

 

Further along the curve, the price for the German year-ahead electricity contract edged down to 47.53 euros/MWh. while the French equivalent contract price reached 50.55 euros/MWh.

 

European carbon prices inched up on Friday, anticipating the upcoming full auction week. The carbon contract expiring in 2021 closed slightly higher at 25.73 euros/tonne.

 

France's Akuo Energy, IEL Energie sign MoU to develop wind farm in Serbia

18/07/2019 08:18:00

France's Akuo Energy and IEL Energie have signed a memorandum of understanding (MoU) with Serbia's autonomous province of Vojvodina for the construction of the Basaid wind farm, Serbian energy minister Aleksandar Antic said.

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Iberdrola secures financing of the 500 MW »Núñez de Balboa« PV solar plant in Spain

18/07/2019 08:07:00

The European Investment Bank (EIB) and the Instituto de Crédito Oficial (ICO) will finance the development of the »Núñez de Balboa« PV solar plant, which Spanish solar project developer Iberdrola is currently building in Extremadura (Spain).

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Daily (17.07.2019): NBP spot plunged by over 16% on Tuesday, due to ample oversupply

17/07/2019 10:43:00

Crude oil prices dipped on Tuesday, after data showed that U.S. crude inventories dropped less than expected last week, as they were only slightly affected by disruptions in the wake of Hurricane Barry in the Gulf of Mexico. Prices were also influenced by the conflicting signals from Tehran and Washington about an alleged reduction of tensions over Iran’s ballistic missile program, as well as by China’s weakest economic growth in 27 years. As a result, Brent crude tumbled by 3.2% to $64.35 a barrel, while WTI futures slumped by 3.3% to $57.62 a barrel.

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