Daily (31.10.2019): German spot power price fell by more than 11% due to strong renewables generation and weaker demand

31/10/2019 11:11 Daily

news

Oil prices declined on Wednesday following a hike in U.S crude inventories which added to worries about a probable delay in solving the U.S- China trade war. Brent oil traded 1.6% lower at $60.61 a barrel. WTI crude settled 0.9% down at $55.06 a barrel.   

An oversupplied system continued to weigh on British gas prices on Wednesday, despite two outages at Serica Energy’s St Fergus gas terminal and Total E&P’s Teesside CATs gas transporting and processing site. The NBP Q1 20 delivery contract traded 0.3% to 44.95 p/therm. At the same time, the 2020 delivery contract ended 0.8% lower at 42.71 p/therm.

 

European spot power prices lost ground on Wednesday due to strong solar and wind generation. Weaker consumption ahead of bank holidays on Friday  also put pressure on prices. As a result, the German spot power price slumped by 11.2% to 42.63 euros/MWh. At the same time, the French day-ahead power price tumbled by 6.4% to 46.48 euros/MWh amid increased nuclear availability.

 

Forward electricity prices were slightly bearish on Wednesday tracking lossed in gas, coal and oil markets. The price for the German 2020-delivery power contract slipped by 0.1% to 46.90 euros/MWh, while the equivalent French contract steadied at 46.90 euros/MWh.

 

European carbon prices continued their rally on Wednesday  to hit a one-week peak above the €26 level. The 2022-expiry contract ended 1.9% higher at 26.76 euros/tonne.

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.

<READ MORE

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.

READ MORE

Novatek $4.8 bln Yamal LNG fleet complete. Yakov Gakkel expected to load next week

03/12/2019 09:33:00

Russia’s largest independent natural gas producer and LNG exporting player, Novatek has completed the $4.8 billion, 15-vessel strong fleet of Arc7 liquefied natural gas carriers set to serve its giant Yamal LNG project in the Arctic.

READ MORE