Daily (21.05.2019): European spot power prices soared by around 16% due to firmer consumption

21/05/2019 10:04 Daily


Oil prices diverged on Monday. OPEC’s intention to maintain output cuts coupled with the escalating tensions in the Middle East sent WTI futures up by 0.5% at 63.10 USD/bbl. Meanwhile, Brent crude lost 0.3% to settle at 71.97 USD/bbl, influenced by the high level of global crude oil inventories.

British gas prices were mixed on Monday. The NBP spot price surged by 3.7% to 30.60 p/therm, as Norwegian flows via the Langeled and Vesterled pipelines remained weak. Firmer demand from power plants due to low wind generation also supported prices. On the curve, the contract for delivery in Q1 2020 was 0.6% down at 57.28 p/therm, in the context of steady LNG arrivals.


European day-ahead electricity prices spiked on Monday. The price for the German spot power contract soared by 16.4% to 43.29 EUR/MWh amid falling solar output and higher consumption driven by cooler weather. At the same time, tight nuclear availability and increased demand supported the price for the equivalent French contract, which hiked by 15.7% to 42.65 EUR/MWh.


Along the curve, power prices remained bearish, tracking the downward trend in several gas contracts. The German power contract for delivery in 2020 ended at 48.26 EUR/MWh, losing 0.2% on a daily basis. The same decline was noticed for the equivalent French contract, which closed at 51.35 EUR/MWh.


EU carbon prices rose on Monday, supported by a stronger session and expectations for a bullish market sentiment. The price for the contract expiring in 2020 inched up by 0.8% to 25.43 EUR/tonne.

Daily (14.08.2019): Crude oil prices soared by nearly 5% on Tuesday, bolstered by the U.S. tariff delay on Chinese products

14/08/2019 11:46:00

The U.S. announcement on Tuesday about the 10% tariff delay for certain Chinese products spurred the biggest daily percentage gain in crude oil prices since December. Prices were also boosted by an expected decline in the U.S. crude inventories and Saudi Arabia’s firm intention to support OPEC-led supply cuts. Against that bullish background, Brent crude spiked by 4.7% to $61.30 a barrel, while WTI futures surged by 4% to $57.10 a barrel.


Sonnedix to start construction of 171 MW PV plant in Chile

14/08/2019 09:03:00

Independent solar power producer (IPP) Sonnedix announced the start of the construction of a 171 MW PV plant located in the Pica district in the Atacama Desert in Chile.


Rosatom postpones fast reactor project, report says

14/08/2019 08:48:00

Rosenergoatom, the nuclear power plant operator subsidiary of Russian state nuclear corporation Rosatom is expected to receive about RUB280 billion (USD4 billion) less in state funding for the construction of new nuclear reactors in Russia owing to the postponement of its fast neutron reactor programme, Russian newspaper Kommersant reported last week, citing anonymous sources.