Daily (18.01.2019): European year-ahead power prices climb by over 4% on Thursday, due to colder weather

18/01/2019 11:41 Daily


Oil prices retreated on Thursday, due to stronger U.S crude oil production and persisting concerns over trade between China and US. However, losses were limited by OPEC output cuts. Brent crude edged 0.2% lower at 61.18 USD/bbl, while WTI crude was down by 0.5% at 52.07 USD/bbl.

British wholesale gas continued its upward trend on Thursday due to a cold spell and a robust demand for heating. At the same time, wind generation output declined, leading to higher gas-for-power demand. As a result, the NBP spot price surged by 3.2% to close at 61.15 pence/therm.  Further along the curve, the NBP for next quarter delivery hiked by 4.6% to end at 55.55 pence/therm, while the NBP year-ahead price jumped by 2.8% to 56.65 pence/therm.


European spot power prices climbed sharply on Thursday, following colder weather outlook and a rise in demand. The German contract for day-ahead delivery skyrocketed by 44.1% to 61.73 EUR/MWh, while the French equivalent contract price soared by 8.3% to 66.68 EUR/MWh.


Forward electricity prices also soared, as carbon and other fuels markets posted strong gains. The French year-ahead contract traded 4.1% higher at 54.55 EUR/MWh, while the equivalent German contract was nearly 4.4% higher at 51.06 EUR/MWh on Thursday.


EU carbon prices rose on Thursday, as there are hopes that UK lawmakers will strike a new deal to avoid a hard Brexit. Consequently, the 2020-expiry contract hiked by almost 1.1% to 24.13 EUR/tonne

Vestas scoops 415MW prize at Saudi mega-farm

17/07/2019 08:25:00

Vestas has secured a 415MW turbine order for Saudi Arabia’s first utility-scale wind farm.


Daily (16.07.2019): EU carbon prices extended a fresh 11-year high on Monday, boosted by a weakening allowance supply

16/07/2019 10:15:00

Crude oil prices decreased on Monday, following mixed Chinese economic data and amid anticipations of a short-term impact of the tropical storm in the Gulf of Mexico on U.S. offshore oil output. A softening in the tensions between the West and Iran added pressure on prices. Consequently, Brent crude edged down by 0.4% to $66.48 a barrel, while WTI futures lost 1.1% to settle at $59.58 a barrel.


Aker Energy secures funding for offshore oil project in Ghana

16/07/2019 10:09:00

Africa Finance Corporation (AFC), an infrastructure solutions provider in Africa, has decided to finance Aker Energy’s deepwater project located offshore Ghana by investing in $100 million of convertible bond notes with a commitment to participate in follow on fund raising activities.