Daily (02.03.2018): NBP spot gas price hiked by over 125% on Thursday due to freezing weather and high demand

02/03/2018 11:29 Daily

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A retreating stock market and fears about rising U.S. crude output contributed to a fall in oil prices on Thursday to two-week lows. Brent crude declined by 3% to end at $63.83 a barrel. WTI futures dropped by 1.1% to close at $60.99 a barrel. 

British prompt gas prices jumped to their peaks in at least 10 years on Thursday as very cold weather boosted demand and outages at gas terminals limited imports. UK day-ahead gas price soared by 125.5% to settle at 230 p/therm. Summer 2018 delivery contract traded 0.1% higher at 42.51 p/therm.

 


 

German day-ahead power price hiked by 34.6 percent to end at 40.43 euros/MWh, in reply to an expected drop in wind power supply. The French equivalent contract edged 0.3% down at 84.05 euros/MWh. 


Further along the curve, electricity prices slipped on forecasts for warmer weather. German year-ahead power price shed 1% to 33.76 euros/MWh. Meanwhile, the French equivalent contract lost 0.6% to 39.03 euros/MWh. 


EU carbon prices slipped to around €10 level on Thursday, but did not change much from the previous session’s six-year peak, despite weak auction demand. The carbon contract expiring in 2019 settled 1.1% lower at 10.05 euros/tonne.

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GE Power and Elektrownia Ostroleka signed a contract to build Ostroleka C, an ultra-supercritical (USC) coal-fired thermal power plant in the northeast of Poland, GE announced on Thursday.

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Daily(13.07.2018): NBP spot price fell by 2.5% on Thursday due to expectations for lower demand

13/07/2018 11:21:00

Oil prices were mixed on Thursday, spurred by news that the U.S. market has been undersupplied due to the loss of some Canadian oil production. Brent crude surged by 1.4% to $74.45 a barrel. Meanwhile, WTI crude edged 0.1% lower at $70.33 a barrel, as inventories at the Cushing delivery hub had fallen by almost 1M barrels.

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Siemens has won an electrical balance of plant contract to supply systems to Trung Nam Group for a 258MW solar farm in Vietnam.

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