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

17/03/2017 08:51 Daily

news

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.


 

Want to get access to personalized energy market data every day? Learn more about our Energy Cockpit solution here.

Hinkley Point could be the single new nuclear plant

21/06/2017 16:16:00

The manager of one of Britain’s major utilities declared on Monday that EDF’s scheduled Hinkley Point nuclear power station is likely to remain the only one to continue in the UK.

<READ MORE

Poland's electricity network is ready for potential heatwave

21/06/2017 11:33:00

Poland's energy ministry declared on Monday, that the country’s electricity network would be able to deal with a possible heatwave this summer.

READ MORE

Netherlands: Extra measures required to meet 2020 greenhouse gas reduction targets

21/06/2017 11:13:00

The government of Netherlands declared on Monday it would meet its objective to reduce greenhouse gas emissions by 25% in the year 2020 from 1990s level, only if extra measures will be taken.

READ MORE