Daily (31.01.2020): A continuous strong decline in British gas prices due to warm weather, low demand and weaker oil markets

31/01/2020 11:45 Daily


Crude oil prices had the worst performance in three months on Thursday, as investors continued to worry about a sluggish demand for oil following the continued spread of coronavirus, with OPEC considering the possibility of an early meeting.

Brent crude for March delivery fell by $1.52, or 2.5%, to settle at $58.29 a barrel on ICE London. U.S. WTI crude shed 3.5% to end at $52.14 a barrel on NYMEX.


Milder-than-normal weather and a weaker demand weighed on British gas prices on Thursday. The NBP day-ahead gas price dipped by 5% to 25.50 p/therm. Along the forward curve, the gas price for Q2 2020 delivery fell by 2.6% to 24.23 p/therm, while the gas for Q3 2020 delivery shed 2.4% to 25.43 p/therm.


European spot power prices tumbled on Thursday due to strong wind power production and lower demand. The German day-ahead power price dropped by 32% to 22.48 EUR/MWh, while the price for the similar contract in France decreased by 18% to stand at 29.20 EUR/MW.

Forward power prices lost ground on Thursday, tracking weaker EUAs prices. The German year-ahead power price sunk 1.5% to 41.49 EUR/MWh, while the price for the French equivalent contract dipped by 1.9% to end at 43.00 EUR/Wh.


The carbon price plunged a two-month low on Thursday, trading below the €24-mark as coronavirus pandemic continue to weigh on the sentiment. EUAs expiring in 2021 slipped by 1% to settle at 23.91 EUR/tonne.

Daily (07.04.2020): European year-ahead power prices soared on Monday due to an aggressive increase in carbon prices

07/04/2020 11:11:00

Oil prices started the week on a back foot after a postponement to Thursday of a meeting between OPEC and its allies aimed at reducing the excess supply of black gold on the world market. Hence, Brent crude for June delivery fell by $1.06, or 3.1%, to settle at $33.05 a barrel on ICE London. Meanwhile, U.S. WTI crude decreased by 2.26, or 8%, to end at $26.08 on NYMEX. The two benchmarks saw a recovery last Thursday and Friday due to signals of new production cuts sent by Russia and Saudi Arabia.


Prices fall in Greece's renewables tender with 503 MW awarded

07/04/2020 11:05:00

Greece has awarded 502.94 MW of wind and solar power capacity in its latest mixed renewables tender, with bids hitting as low as EUR 49.11 (USD 53.06) per MWh.


Russia To Cut 1 Million Barrels Per Day, But Under One Condition

07/04/2020 11:01:00

Russia may be willing to reduce its oil production by as much as 1 million bpd, or a little under 10 percent of its March average but only if the United States joins the cuts, Bloomberg has reported citing sources it said were familiar with the dominant sentiment in the industry.