Daily (10.10.2018): German day-ahead power price declined by more than 13% on Tuesday due to high wind output

10/10/2018 11:00 Daily

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Global oil prices rose slightly on Tuesday, on signs of falling crude Iranian exports, before the imposition of a new round of U.S. sanctions. Furthermore, a partial shutdown in production in the Gulf of Mexico, ahead of Hurricane Michael heading towards eastern states sustained the upward trend in prices. 


WTI crude oil price, the U.S. benchmark contract, gained 67 cents on Tuesday, representing a 0.9% increase, and traded at $74.96 a barrel. Meanwhile, the international benchmark Brent crude oil futures rose by 1.3% to $85.00 a barrel. 

British wholesale gas prices were bearish on Tuesday, despite lower flows from Norway and rising oil prices. On the curve, Summer 2019 delivery contract settled 2.1% lower at 62.75 p/therm. Meanwhile, NBP spot price was 1% down at 67.4 p/therm. 


European spot power prices slipped on Tuesday due to the availability of more conventional energy sources and wind generation in Germany and France, while demand curbed in a brief early-autumn temperature spike, forecasted to end next week. The German electricity price for day-ahead delivery slumped by 13.1% to settle at 62.17 EUR/MWh, because of limited solar power generation. Likewise, the French equivalent contract lost 9.5% to 68.04 EUR/MWh, due to tight nuclear output.


Along the forward electricity curve, prices fell due to losses in carbon emissions. The German 2019-delivery contract was at 55.3EUR/MWh, or a decrease of 1.9%. Similarly, the French equivalent Cal’19 contract settled 2.1% lower at 59.7 euros/MWh.

 

The European carbon contracts posted losses on Tuesday following the downward evolution in electricity and gas markets, holding on the previous auction’s retreat from a two-week peak. The contract expiring in 2020 closed 5% down at 22.62 euros per tonne.

Importers hike the price of Russian gas in Romania

15/01/2019 09:28:00

WIEE, a company that imports Russian natural gas to Romania, notified its customers about a 2% price hike effective January 1, 2019, local Economica.net reported.

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Italy plans 50 GW PV, 18.4 GW wind to meet 2030 target

15/01/2019 09:23:00

Italy will aim to reach 50 GW of solar photovoltaic (PV) capacity at end-2030 under its new climate and energy plan, the target for wind is 18.4 GW.

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Daily (14.01.2019): Oil prices down by around 2% on Friday on concerns over global economic growth

14/01/2019 11:57:00

Oil prices lost nearly 2% as the recent pessimistic economic data added to persisting worries about global economic growth. Nevertheless, oil markets posted gains on a weekly basis, due to OPEC-led output cuts and expectations for progress in U.S.-China trade talks. Brent crude fell by around 2% to $60.48 a barrel, while WTI futures settled about 2% down to $51.59 a barrel.

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