Daily (20.11.2018): The French power spot price jumped by almost 58% on Monday, due to lower nuclear availability and colder weather forecasts

20/11/2018 11:41 Daily

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A reduction in U.S. crude stocks and a potential cut in OPEC production contributed to a slight increase in oil prices on Monday, after a volatile session. Concerns over the continuous trade war between US and China limited gains, keeping Brent crude almost flat at $66.73 a barrel. Meanwhile, WTI crude prices soared by 1.3% to close at $57.2 a barrel.

On Monday, stronger LNG supplies along with robust flows from Norway put pressure on the UK gas contracts. NBP spot fell 2.2% to 65.50 p/therm. Along the forward curve, the 2019-delivery contract traded 3.6% down at 60.94 p/therm.

 

European spot power prices were mixed on Monday. The German electricity price for day-ahead delivery lost 3.2% to settle at 46.65 EUR/MWh, due to stronger wind power generation. However, the French equivalent contract traded 57.9% higher at 95.19 EUR/MWh, due to reduced nuclear availability following a strike and colder weather forecasts.

 

Further along the electricity curve, prices lost ground on Monday, tracking losses in European carbon and coal markets. The French Cal’19 contract was 4.1% down at 55.40 euros/MWh. Meanwhile, the German 2019-delivery contract ended at 50.74 EUR/MWh, posting a 3.2% decrease.

 

EU carbon contracts turned bearish on Monday, due to a weaker energy complex. The price for the 2021-expiry carbon contract dropped by 1.1% to settle at 20.47 euros a tonne.
 

Daily (12.08.2019): European spot power prices plummeted by nearly 70% on Friday due to a surge in renewables output

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