Daily (29.07.2020): British gas prices gained ground on Tuesday amid lower Norwegian flows and higher carbon prices

29/07/2020 10:24 Daily


Crude oil futures ended lower on Tuesday as market players continue to fret over the impact of COVID-19 on energy demand ahead of weekly petroleum supply data expected to show a further rise in U.S. crude inventories. Hence, Brent crude slipped by 19 cents, or 0.4%, to settle at $43.22 a barrel, while U.S. WTI crude futures declined by 56 cents, or 1.4%, to settle at $41.04 a barrel.

Lower flows from the Norwegian continental shelf spurred the British day-ahead gas price on Tuesday. In this context, NBP spot rallied by 4.8% to 13.00 p/therm. Further along the curve, the gas price for Summer 2021 delivery soared by 1.9% to 28.36 p/therm, driven by higher carbon prices.

European spot electricity prices diverged on Tuesday, with the German day-ahead power plunging by 9.7% to 20.75 EUR/MWh, hitting a three-week low amid a surge in solar power generation and weak demand. On the contrary, the French equivalent contract jumped by 14.3% to 37.69 EUR/MWh due to lower nuclear availability.

Year-ahead power prices remained little changed in quiet trading, with the German Cal’21 at 38.99 EUR/MWh, while the French Cal’21 rose slightly by 0.7% to 43.88 EUR/MWh.

EUAs expiring in 2021 soared by 2.9% to 26.11 EUR/tonne, recovering from the previous session’s 5% drop amid hopes of more government stimulus measures.

Daily (03.08.2020): NBP spot climbed by 5% on Friday, due to higher gas-for-power demand

03/08/2020 11:10:00

Crude oil prices inched higher on Friday, stimulated by a weaker dollar and record high oil supply cuts by US in May. Consequently, Brent crude rose by 1.2% to $43.75 a barrel, while WTI futures increased by 0.6% to $41.27 a barrel.


EU bank provides €35m for EV charging stations in Spain

03/08/2020 09:40:00

The four-year project will see the roll out of 8,500 charging points for EVs and hybrid vehicles


Iberdrola obtains environmental permits for €180m solar pv projects

03/08/2020 09:35:00

Spanish multinational utility Iberdrola has obtained the Environmental Impact Statement (EIS) for four solar photovoltaic plants in the province of Cáceres.