Daily (18.04.2019): EU carbon prices climbed by 1.7% on Wednesday, amidst tighter supply and bullish gas prices

18/04/2019 10:46 Daily


Crude oil prices edged lower on Wednesday, as EIA announced that U.S. crude stocks fell less than anticipated. Meanwhile, OPEC supply cuts and U.S sanctions limited losses. As a result, Brent crude slipped by 0.1% to $71.62 a barrel, while WTI futures traded 0.5% lower at $63.76 a barrel.

British gas prices gained ground on Wednesday, even though warmer weather and more renewable output is expected. Despite an oversupplied system, the NBP day-ahead hiked by 1.7% to 35.90 p/therm, while the contract for delivery in Q3 2019 traded 2.7% higher at 39.48 p/therm.


European day-ahead power prices varied on Wednesday. The price for the German day-ahead power contract was almost constant at 40.84 EUR/MWh on uncertain direction of solar power output. Meanwhile, the equivalent French contract closed 1.7% down at 41.55 EUR/MWh, due to rising temperatures.


Along the curve, electricity prices spiked, tracking higher carbon and gas prices. The price for the German power contract for delivery in 2020 rose by 1.5% to 51.00 EUR/MWh, while the equivalent French contract traded 1.3% higher at 53.82 EUR/MWh.


EU carbon prices surged on Wednesday, influenced by tighter supply and rising gas prices. The price for the 2021-expiry contract settled 1.7% higher at 28.21 EUR/tonne.

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

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

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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).