Daily (12.10.2018): NBP spot price plummeted by almost 9% on Thursday, due to an oversupplied system

12/10/2018 11:24 Daily

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Oil crude prices ended lower on Thursday, following a drop in global stock markets, as the Dow Jones took its biggest plunge since February on Wednesday. Moreover, the investor sentiment was affected by an industry report, which revealed an unexpected rise in U.S. crude oil supply. Consequently, the WTI crude closed 3% down at $70.97 a barrel, while Brent oil fell by 3.4% to $80.26 a barrel. 

British wholesale gas prices were strongly bearish on Thursday, as a dip in oil prices and above average temperatures coupled with a high wind supply curbed the demand for gas. NBP spot price plunged by 8.7% to reach 71.50 p/therm. Further along the curve, the Summer 2019 delivery contract settled 2.1% lower at 59.69 p/therm.

European spot power prices were mixed on Thursday. As such, the electricity price for day-ahead delivery gained 4.5% to settle at 56.77 EUR/MWh in Germany, due to anticipations of a fall in wind power output. Meanwhile, the equivalent contract in France dropped by 5.9% to end at 61.49 EUR/MWh, on expectations for lower demand.

 

Along the forward electricity curve, contracts experienced extended losses on Thursday amid a period of intense selling of CO2 European Emission Allowances triggered by declining prices, as well as wider market weakness. The German 2019-delivery contract dropped by 2.5% to end at 51.96 EUR/MWh. Meanwhile, the French equivalent contract traded 2.7% down at 56.07 EUR/MWh.

 

On Thursday, the European carbon contracts recovered from losses posted earlier in the week, despite mostly lower energy prices. The price for the contract expiring in 2021 was 0.8% higher at 22.48 euros a tonne.

 

Daily (15.11.2018): European year-ahead power prices fell by over 1% on Wednesday, tracking weaker CO2 and coal markets

15/11/2018 11:36:00

Oil prices surged on Wednesday, recovering from recent lows as OPEC partners are focusing on output cuts in order to support the market. Nevertheless, gains were still limited by the escalating trade war between the worlds’ biggest economies — U.S. and China. Both Brent crude and WTI rose 1% to settle at $66.12 and at $56.25 a barrel respectively.

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Bad luck and the spectre of power cuts this winter is back!

15/11/2018 09:01:00

Maintenance work on the Doel 1 nuclear reactor is going to take longer than expected after it became clear that additional and extremely complex works are required.

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Spain's power 100% renewable in 2050 as part of draft climate law

15/11/2018 08:50:00

Spain will aim to cut its greenhouse gas (GHG) emissions by 90% by 2050, from 1990 levels, and achieve 100% renewable power that same year, according to a draft of the Climate Change and Energy Transition Law, presented to journalists on Tuesday.

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