Daily (28.06.2019): NBP day-ahead plummeted by 9.5% on Thursday, due to bearish fundamentals and robust supply

28/06/2019 11:00 Daily


Crude oil prices added ground on Thursday, on expectations that OPEC will extend an output cut agreement, while investors await a meeting between the United States and China that could ease current trade tariffs. As a result, Brent crude inched 0.1% up at $66.55 a barrel, while WTI futures settled 0.1% up at $59.43 a barrel.

British wholesale gas prices slumped on Thursday, due to bearish fundamentals and robust supply. NBP spot plummeted by 9.9% to 23.80 p/therm, while the contract for delivery in Q1 2020 settled 1.3% lower at 54.66 p/therm.

European prompt power prices extended gains on Thursday, due to a sharp drop in wind power output both in Germany and France. The price for the German day-ahead power contract climbed by 22.5% to 43.45 EUR/MWh.  The equivalent French contract settled 12.1% higher at 35.02 EUR/MWh, influenced by a projected increase in consumption.


Meanwhile, forward electricity prices also added small gains, tracking higher gas prices. The price for the German power contract for delivery in 2020 edged 0.2% up at 49.47 EUR/MWh, while the equivalent French contract traded 0.1% higher at 52.58 EUR/MWh.


EU carbon prices turned bearish on Thursday, ahead of higher auction volumes next week. The price for the 2019-expiry contract traded 1.8% lower at 26.89 EUR/tonne.

EBRD Finances Private-to-Private Solar Project in Jordan

20/08/2019 08:25:00

The European Bank for Reconstruction and Development together with its partners is supporting a pioneering energy project in Jordan with a financial package of up to $35 million. The project will enable the telecom operator Orange Jordan to cover part of its demand with clean energy generated in solar plants.


Belene project attracts five expressions of interest

20/08/2019 08:21:00

Five companies have expressed interest in Bulgaria’s invitation for strategic investment in the construction of Belene nuclear power plant on the Danube River near the Romanian border. According to national newspaper 24 Chasa, China National Nuclear Corporation, Framatome, General Electric, Korea Hydro and Nuclear Power and Rosatom have all applied for the selection process.


Equinor completes acquisition with Shell in the US Gulf of Mexico

20/08/2019 08:18:00

The Bureau of Ocean Energy Management has approved Equinor and Shell’s transaction announced in May 2019, whereby Equinor exercised its preferential right to acquire 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for a total consideration of $965 million in cash.