Daily (06.07.2018): German day-ahead electricity price slumped by 7.7% due to rising wind supplies

06/07/2018 11:44 Daily


Oil prices dropped on Thursday, due to rise in U.S. crude inventories concerning the potential trade war between world’s major economies - China and the United States. Brent crude slipped by 1.1% to $77.39 a barrel, while WTI crude dropped by 1.9% to $72.94 a barrel.

UK gas contracts were bullish on Thursday, despite the downward evolution in oil and coal prices. NPB spot price surged by 1.2% to 57.3 p/therm, due to lower temperatures and weak wind output. At the same time, the August 2018 delivery contract traded 1.2% higher at 57.97 p/therm.


European spot power prices continued their bearish trend on Thursday, as forecasts for rising wind supplies weighed down on demand for air conditioning.


The German day-ahead delivery contract lost 7.7% to settle at 47.81 EUR/MWh, while the French equivalent contract slumped by 7.3% to close at 51.86 EUR/MWh.

Further along the curve, German Cal 19’ delivery contract gained 0.9% at 44.55 euros/MWh and the French year-ahead power contract ended 1.3% up at 49.43 euros/MWh.


European carbon prices set a monthly record on Thursday, as expansion in power stirred auction on predictions of increased demand from utilities in the upcoming months. The carbon contract expiring in 2021 ended 1.1% higher to 16.74 euros a tonne.

OMV gets extension to drill well off Otago Coast

17/10/2018 08:59:00

Oil company OMV has been granted a two-year extension for drilling an exploratory well in the Great Southern Basin off the Otago Coast.


Daily (16.10.2018): EU carbon prices dropped by more than 9% in a weaker session on Monday as Brexit deal not reached yet

16/10/2018 11:23:00

Oil prices increased on Monday, backed by geopolitical tensions after the disappearance of a Saudi journalist, fueling supply worries from the world’s top crude exporter. The price increase was tempered nonetheless by long-term demand concerns. Therefore, Brent crude price rose by 0.4% to settle at $80.78 a barrel.


Romania has the lowest energy consumption in the EU

16/10/2018 09:03:00

Romania has the lowest energy consumption per capita in the European Union and needs to increase its domestic consumption by expanding distribution networks and investing in new natural gas-based power plants.