Daily (21.12.2020): A 20% drop in German and French spot power prices on mild and windy weather outlook

21/12/2020 11:43 Daily

news

Progress related to the stimulus package in the United States lent support to oil prices on Friday. As such, Brent crude moved 1.5% higher to trade at $52.26 a barrel, while WTI oil rose by 1.5%, or 74 cents, to $49.10 a barrel.

The British day-ahead gas price extended the bearish sentiment on Friday, weighed by outlooks of mild weather and higher wind output. As a result, NBP spot ended 2.8% lower at 42.50 p/therm. On the curve, prices increased following stronger oil commodities. The gas contract for front-year delivery traded 1.4% higher at 41.06 p/therm.

 

German and French day-ahead power prices posted a 20% loss on Friday mainly as a result of milder temperatures and increased wind power generation. The German spot power price closed 23.5% lower at 32.52 EUR/MWh, while its French counterpart dropped 20.1% to 38.58 EUR/MWh.

 

Contracts on the curve followed bearish carbon prices on Friday, with the German Cal’21 power contract 1.2% down at 44.70 EUR/MWh. At the same time, the French Cal’21 power contract traded 1.1% lower at 48.21 EUR/MWh.

 

European carbon prices fell on Friday, pressured by a drop in energy and equity prices. Despite a supply shortage limiting losses, the CO2 contract expiring in December 2022 ended 2.6% lower at 31.36 EUR/tonne.

French Feb nuclear falls to record low as maintenance season starts early

02/03/2021 08:47:00

Average French nuclear generation fell to a record low in February of 45 GW, down 5.5% on the year, grid operator data showed March 1.

<READ MORE

Daily (01.03.2021): Oil prices fell on Friday amid strong U.S. dollar, concerns of stronger supply, but notched weekly gains

01/03/2021 11:10:00

Oil prices fell on Friday amid a stronger U.S. dollar and concerns that crude oil supply would rise in response to prices rebounding above pre-pandemic levels. Hence, Brent crude declined by 75 cents, or 1.1%, to settle at $66.13 a barrel. Meanwhile, U.S. WTI crude settled $2.03, or 3.2%, lower at $61.50 per barrel. However, on a weekly basis, Brent surged by 5.1%, while WTI soared by 3.8% and both hiked by 20% in February on supply disruptions in the United States and optimism over demand recovery on the back of COVID-19 vaccination rollout.

READ MORE

Germany receives 200 hydrogen project applications in IPCEI call

01/03/2021 08:39:00

Germany's energy ministry has received around 200 hydrogen project proposals seeking funding under the Important Projects of Common European Interest (IPCEI) program, it said Feb. 25.

READ MORE