Daily (23.08.2019): EU carbon prices fell to an 8-week low on Thursday, weighed down by technical weakness

23/08/2019 10:44 Daily


Crude oil prices inched down on Thursday, due to weaker equity markets and uncertainty over the outlook for U.S. interest rate cuts. Both Brent crude and WTI futures fell by 0.6% to $59.92 and $55.35 a barrel respectively.


British gas prices diverged on Thursday. NBP spot climbed by 2.5% to 28.60 p/therm, due to maintenance works that disturbed imports from Norway. Meanwhile, prices on the forward curve dropped, due to robust supply and a drop in oil prices. The contract price for delivery in Q1 2020 declined by 1.4% to 51.70 p/therm.


European prompt power prices were mixed on Thursday. The price for the German day-ahead power contract rose by 2.8% to 37.32 EUR/MWh, as wind volumes are set to fall.  At the same time, the equivalent French contract settled 6% lower at 31.31 EUR/MWh, on rising nuclear availability.


Meanwhile, forward electricity prices were rather constant amid a bearish energy complex. The price for the German power contract for delivery in 2020 closed at 48.32 EUR/MWh, while the equivalent French contract settled at 49.89 EUR/MWh.


EU carbon prices fell to an 8-week low on Thursday, pressured by technical weakness. Therefore, the contract expiring in 2020 decreased by 1.4% to 25.93 EUR/tonne.


Total Eren to build 100-MW solar farm in Uzbekistan

18/09/2019 08:50:00

Paris-based independent power producer Total Eren on Friday signed an agreement to invest up to EUR 150 million (USD 166m) in the construction of a solar photovoltaic (PV) power plant in the Republic of Uzbekistan.


US, Russia eye potential nuclear power project in Slovenia - PM Sarec

18/09/2019 08:47:00

Investors from the US, Russia and other countries are interested in the potential construction of a second unit at Slovenia's Krsko nuclear power plant, prime minister Marjan Sarec has said.


Gas discovery in the Norwegian Sea

18/09/2019 08:41:00

Equinor and its partners AkerBP and Wellesley Petroleum have found gas in the Ørn exploration well south-west of the Marulk field in the Norwegian Sea.