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Daily (21.06.2017): UK spot gas price jumped by almost 10% on Tuesday
Oil prices tumbled to seven-month lows on Tuesday on news about increasing oil supplies from several key producers. The market is bearish and traders seem happy to keep selling into every rally, as stated by markets analysts at Forex.
read more... 21/06/2017
UK: Ofgem will reduce subsidies for small power generators
Britain’s energy regulator Ofgem declared on Tuesday it will cut subsidies to several small electricity producers that offer back-up during peak demand. According to Ofgem, this move would reduce household electricity bills by around 20 pounds a year, since the cost of the subsidies is included in overall network fees charged to power companies, which these pass on to consumers.
read more... 20/06/2017
Centrica is closing UK’s largest natural gas storage site
Centrica Storage Ltd (CSL) declared on Tuesday about its intention to stop storage operations at Rough. The energy supplier wants to permanently end Rough's status as a storage facility. Nevertheless, the company plans to produce all recoverable gas from the gas field, which is anticipated at 183 billion cubic feet (bcf).
read more... 20/06/2017
EU reinforces ties with climate deal members after U.S. decision to withdraw
The EU declared on Monday it promised to cooperate with China, the world's biggest polluter, to achieve the target of limiting global warming to well below 2 degrees Celsius above pre-industrial levels, following the Trump’s decision to withdraw from the Paris climate agreement.
read more... 20/06/2017
Daily (20.06.2017): European spot electricity prices soared by over 40% on Monday
Oil prices decreased on Monday, due to rising production in the United States, Libya and Nigeria, which has taken the edge off an OPEC-led initiative to support the market by cutting output.
read more... 20/06/2017