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Daily: German year-ahead power prices at 8-year low as coal, oil market decline
Brent crude rose towards $105 per barrel on Monday after United States showed optimistic hiring figures, but not enough to incite fears about near-term tampering of the Federal Reserve’s massive stimulus. Meanwhile, Brent oil climbed 6 cents to $104.62 a barrel by 05:07 GMT, after hitting $104.76 earlier. U.S. oil rose 9 cents to $96.12 per barrel.
read more... 11/06/2013
IEA: World carbon emissions at a new record high in 2012
World carbon dioxide emissions hit a record high of 31.6 billion tons in 2012, even if U.S. and Europe registered lower emissions.
read more... 11/06/2013
Spain to reduce subsidies to renewables
Spain government has recently announced it intends to reduce renewable subsidies by 10-20% by 21 June. The decision came following a meeting between representatives of Spanish and foreign banks and industry officials last month, when it was concluded that government subsidies increased the costs for the functioning of the nation's electrical system, and the costs of running the renewable systems have been higher than the amount of money generated by actual sales of power to households and businesses.
read more... 11/06/2013
Italy: Electricity consumption down 3.4% in May
According to the Italian power grid operator Terna, Italy’s electricity consumption was down 3.4% last month in comparison to the year before, to 25.3 billion kWh. The drop in electricity demand is due to the crisis, but the good news is that Italy now has an abundance of energy, which is reflected positively on prices.
read more... 10/06/2013
Daily: Crude oil up 1$ alongside U.S. equities rally
Brent crude oil futures increased by $1 a barrel on Friday as U.S. equities rallied taking crude along for the ride, as United States added 175,000 jobs last month. Brent crude settled up 95 cents at $104.56 a barrel. During the session, Brent contract traded as high as $105 and below $103, posting a 4 percent weekly gain, its highest since July 2012. U.S. oil rose $1.27 to settle at $96.03 a barrel, registering its strongest weekly gain since April 26 at 4.5 percent.
read more... 10/06/2013