Daily (19.12.2019): French spot power plunges 33% on Wednesday on high wind, nuclear generation

19/12/2019 12:33 Daily


Crude oil futures were rather flat on Wednesday after moving upward four trading days in a row. Brent crude edged higher, paring earlier gains following the latest oil inventory figures from the American Petroleum Institute (API) and the U.S. Department of Energy (DOE). Brent crude for February delivery added 7 cents, or 0.1%, to end at $66.17 per barrel. WTI for January delivery slipped to $60.93 per barrel.

A milder weather outlook and weaker demand for heating weighed on British prompt gas prices on Wednesday. NBP spot lost 3.3% at 31.92 p/therm. Near-term contracts were bullish as LNG supplies hit record levels in December. The January 2020 delivery contract advanced 3.3% at 38.81 p/therm, while the Summer 2020 delivery contract traded 2.5% to settle at 34.70 p/therm.


European spot power prices decreased considerably on Wednesday, pulled down by a forecast for a dramatic increase in wind and nuclear power combined with a weaker demand outlook. German spot power dipped 14% to settle at 34.65 EUR/MWh, while the French equivalent contract plunged 33% at 28.19 EUR/MWh.


Forward contracts gained ground tracking a bullish energy complex. The German contract for year-ahead delivery added 0.3% at 43.37 EUR/MWh, while the French equivalent contract gained 0.6% at 46.10 EUR/MWh.


Carbon prices edged higher for a third consecutive day on Wednesday as the annual year-end auction pause created a sale loophole. The price for the carbon contract expiring in 2020 surged by 2% to 26.58 EUR/tonne, hitting the highest level in three months.

Daily (02.03.2021): Oil prices fell sharply on Monday amid jitters that OPEC will raise output

02/03/2021 09:24:00

Crude oil futures extended losses on Monday amid supply concerns ahead of the OPEC+ key meeting on Thursday, rising output from Venezuela, and weak crude demand from China. Hence, Brent crude settled at $63.69 a barrel, dropping by $2.44, or 3.7%. Meanwhile, U.S. WTI crude fell by 0.86 cents or 1.4%, to end at $60.64 a barrel.


Lithuania to start supplying LNG to Poland next year

02/03/2021 08:57:00

Lithuanian state-controlled energy company Ignitis Group will start supplying liquefied natural gas (LNG) to Poland next year when a new pipeline between the two countries comes online, its CEO said on Monday.


ENA brings more flexibility to the grid with contract update

02/03/2021 08:53:00

The Energy Networks Association (ENA) has updated its standardised flexibility contract used across the energy sector to offer more transparency and increase accessibility.