Daily (24.10.2019): EU carbon prices plunged by 3.5% on Wednesday, amidst Brexit concerns and a bearish energy market

24/10/2019 11:12 Daily


Crude oil prices extended gains on Wednesday, following a drop in U.S. crude inventories and due to OPEC’s intention to deepen supply cuts. However, slowing global demand might limit the rise. Hence, Brent crude surged by 2.5% to 61.17 a barrel, while WTI futures climbed by 2.7% to end at $55.97 a barrel.

UK day-ahead gas price soared on Wednesday supported by weaker flows from Norway that left the market undersupplied. NBP spot hiked by 7.6% to 26.20 p/therm. On the curve, gas prices were bearish tracking a weaker energy complex. The November 2020 delivery contract traded 0.9% lower at 40.33 p/therm.


European day-ahead electricity prices fell on Wednesday. The price for the German day-ahead power contract plunged by 11.3% to 38.97 EUR/MWh, as the German wind production is expected to double. Meanwhile, the equivalent French contract price tumbled by 11.9% to 39.20 EUR/MWh on stable nuclear power availability and lower demand ahead of the weekend.


Forward electricity prices also dropped following weaker gas and carbon prices. The German power contract for delivery in 2020 edged 1% lower at 47.30 EUR/MWh. In the meantime, the equivalent French contract nudged 0.9% down at 50.24 EUR/MWh.


EU carbon prices stretched losses on Wednesday due to worries over Brexit talks and a potential extension of the deadline. A weaker energy complex also weighed on EUAs. Hence, the price for the 2021-expiry contract decreased by 3.5% to 25.25 EUR/tonne.

Growth in global carbon emissions slowed in 2019

04/12/2019 08:56:00

A surprise drop in coal use in the United States and Europe has helped to slow the growth of global carbon dioxide emissions this year, with softening demand in China and India also contributing, according to a study published on Wednesday.


Daily (03.12.2019): NBP gas forward prices strongly bearish on Monday due to robust supplies from LNG terminals and from Norway

03/12/2019 11:26:00

Brent crude declined on Monday on concerns about global oil oversupply and limited progress toward resolving the U.S.-China trade war that has clouded the outlook for oil demand. Brent lost 2.4% to settle at $60.92 a barrel.


Ireland to open 1st renewables auction in early 2020

03/12/2019 09:36:00

The Irish government on Monday gave the green light to the country’s first auction under its new Renewable Electricity Support Scheme (RESS) that is seen to pave the way towards a 70% renewables share by 2030.