Daily (25.09.2020): German power spot hiked by over 8% on Thursday due to weaker wind generation

25/09/2020 10:10 Daily


Crude oil futures finished slightly higher on Thursday, buoyed by tighter U.S. crude supplies, while the alarming comeback of the pandemic in Europe restrained gains. Hence, Brent crude edged 0.4% higher, to settle at $41.94 a barrel. Meanwhile, U.S. WTI crude rose by 1%, to end at $40.31 a barrel.

Weaker demand for gas from electricity generation plants due to less need for air conditioning dragged down British near-term gas prices on Thursday. As a result, the gas price for day-ahead delivery lost 0.6%, to settle at 32.30 p/therm. Further along the curve, the gas price for year-ahead delivery declined by 1% to 36.99 p/therm despite bullish carbon markets.


European spot electricity prices diverged on Thursday, with the German day-ahead power surging by 8.4% to 41.37 EUR/MWh due to lower wind power generation. The French equivalent power price fell by 3.9% to 41.93 EUR/MWh amid stable nuclear availablity.

Year-ahead power prices weakened amid volatility in the carbon market. Thus, the German Cal’21 power decreased by 1% to 41.07 EUR/MWh, while the similar contract in France settled at 46.99 EUR/MWh, posting a 0.4% daily loss.

EUAs expiring in 2021 added 1.1% to 26.79 EUR/tonne in a volatile trading on Thursday, neglecting another weak auction result and wider market weakness.

Daily (26.11.2020): European power prices soared on Wednesday amid colder weather outlook and lower wind generation

26/11/2020 10:33:00

Crude prices hit an eight-month high on Wednesday, supported by a drop in US oil stocks, progress on the coronavirus vaccine and optimism ahead of the next OPEC+ summit. As such, Brent crude rose by 1.6% to $48.61 a barrel, while WTI oil ended 1.8% higher at $45.71 a barrel.


EU approves German coal phase-out tender mechanism

26/11/2020 08:42:00

The European Commission today said Germany's coal phase-out tender mechanism to compensate operators for early closures promotes climate objectives and is in line with state-aid rules. But it said it will investigate the mechanism for closing lignite-fired plants.


UK gas tariff changes add to 1Q21 uncertainty

26/11/2020 08:38:00

Looming and as-yet unquantified changes to UK gas transmission capacity charges expected early next year have reduced the visibility of the cost of moving gas in and out of the UK.