Daily (18.05.2018): French day-ahead power price jumped by 13.2% on Thursday on rising coal and carbon prices

18/05/2018 11:12 Daily

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Oil prices were almost flat on Thursday. Brent futures reached an intraday high of $80.50 a barrel due to a stronger dollar, but finally ended at $79.30 a barrel. WTI crude was constant at $71.49 a barrel.

British wholesale gas prices surged on Thursday due to a bullish oil market, cooler weather and reduced supplies because of minor outages. UK day-ahead gas price gained 2.05 pence, or 3.7%, to close at 57.85 p/therm. Meanwhile, Q3 2018 delivery contract settled 2.7% higher at 56.91 p/therm.


European wholesale electricity prices surged on Thursday tracking higher coal and carbon prices. German day-ahead power price soared by 10.5% to end at 39.11 euros/MWh. The French equivalent contract traded 13.2% up at 38.78 euros/MWh.

 


Further along the curve, German Cal 19’ European benchmark closed 1.7% up at 42.17 euros/MWh. The French equivalent contract ended 1.5% higher at 47.07 euros/MWh.


EU carbon prices spiked to reach a new peak above €15 after Thursday’s auction attracted high interest and cleared at the highest level since 2011. The carbon contract expiring in 2019 closed 0.9% up at 15.48 euros/tonne.

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