Daily (17.03.2017): German spot power down 17% on anticipated increase in wind power

17/03/2017 08:51 Daily


Crude oil prices retreated on Thursday despite a support from weaker dollar, being pressured by U.S. crude stockpiles near record high levels, intensifying concerns if OPEC-led output cuts will be able to reduce a global glut.

Brent crude for May delivery shed 7 cents to settle at $51.74 a barrel, recovering from Tuesday's decline to $50.25, its lowest level since Nov. 30 when OPEC unveiled its supply accord. U.S. WTI crude fell 11 cents to close at $48.75 a barrel, but still above the three-month low hit on Tuesday.


European spot power prices for day-ahead delivery fell considerably on Thursday on an anticipated increase in wind power output in Germany and France, while consumption is expected to slip because of warmer weather. German baseload power for Friday delivery dipped 17.23% to 28.50 euros per megawatt-hour (MWh). The equivalent French contract decreased by 2% to 35.74 euros/MWh.


Along the forward power curve, power prices declined tracking lower coal and carbon. The benchmark German Cal '18 baseload contract dropped 0.6% to 29.59 euros/MWh, while the equivalent French year-ahead contract fell 0.89% to 34.52 euros/MWh. Dec '18 EU carbon emissions allowances slipped by 0.95% to 5.19 euros a tonne. European coal prices for 2018 delivery lost 0.60% to trade at $64.50/ tonne.


British wholesale spot gas prices tumbled on Thursday as supplies exceeded demand, while forward contracts were dragged down by from declining crude oil prices. The British day-ahead gas price fell by 1.97% to 40.90 pence per therm. The April gas shed  1.26% to 41.53 p/therm.


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Sweden: Geothermal energy to be used to heat Swedish homes

25/04/2017 13:45:00

Vattenfall, one of Europe's biggest retailers and producers of electricity and heat, announced last week about the intention to use geothermal energy to heat homes of customers in Sweden.


Daily (25.04.2017): German spot electricity price rose by 195%

25/04/2017 11:50:00

Oil prices slipped on Monday in line with Friday decline due to potential 30-years highest rate of Russian oil production in the absence of confirmation that OPEC will extend output cuts until the end of 2017.


Nord Stream 2 inked financial deals with Shell and four other European energy companies

25/04/2017 11:33:00

Nord Stream 2, the company in charge with planning, constructing and future operation of the Nord Stream 2 pipeline, inked financial deals with Shell and four other European energy firms - ENGIE, OMV, Uniper and Wintershall.