Daily (11.05.2018): EU carbon contracts hit new 7-year peaks on Thursday following energy gains

11/05/2018 13:47 Daily


Oil prices surged on Thursday, as US sanctions are most likely to affect oil flows from the major exporter Iran. 


Brent crude increased by 0.3% to settle at $77.47 a barrel. U.S. West Texas Intermediate futures went up 22 cents to reach $71.36 a barrel.


UK wholesale gas prices diverged on Thursday, driven on one side by above normal temperatures and on the other side by lower-than-expected supply, caused by certain domestic production disruptions. NBP spot price decreased by 0.3% to 53.45. Winter 2018 delivery contract closed 1.6% up at 60.73 p/therm. 


European prompt power prices soared on Thursday tracking the upward evolution of the carbon contracts. Germany’s baseload price for day-ahead delivery hiked by 67.3% to 42.20 euros a megawatt hour (MWh). Meanwhile, the French equivalent contract posted a 71.85% jump at 41.88 euros. 


Further along the curve, power contracts continued the bullish trend. German Cal 19’, the European benchmark, ended 0.7% up at 40.31 euros/MWh, while the French equivalent contract closed 0.8% at 45.18 euros/MWh.

EUAs carbon prices kept on rising to hit a new 7-year peak on Thursday as demand exceeded supply and a bullish energy complex. The carbon contract expiring in 2019 traded 4.3% up at 14.77 euros a tonne.

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.


Scottish Power to use 100% wind power after sale to Drax

16/10/2018 08:57:00

Scottish Power will become the first major UK energy company to generate all its electricity from wind power instead of coal and gas, after selling its final gas and hydro stations to Drax.