Daily (19.04.2017): German spot power price up by 8% after Easter holiday

19/04/2017 10:10 Daily


Oil prices hit their lowest value of the last week on Tuesday on news that in May U.S. shale oil output is expected to have the biggest monthly increase in more than two years, fueling concerns that U.S. production growth is undermining efforts to cut oversupply.


Brent crude prices were down 0.85%, settling at $54.89 per barrel on Tuesday, while U.S. WTI crude prices slipped back by 0.46%, closing at $52.41 per barrel.


German spot power rose on Tuesday on the back of increased consumption after the Easter holiday.


The German baseload power contract for Wednesday delivery added almost 3 euros, or around 8%, to trade at 37.03 euros per megawatt-hour (MWh), the markets being closed over the Easter weekend.


Along the forward curve, the German Cal '18 benchmark price fell 26 cents, or 1.87%, to 29.94 euros/MWh, tracking oil and carbon prices.


Temperatures are expected to fall on Wednesday, by 0.8 degrees Celsius in Germany and by nearly 2 degrees in France, having affected French spot power prices, which jumped by 7.28% to close at 38.29 euros per MWh. Meanwhile, the electricity price in France for delivery in 2018 settled at 35.45 euros per MWh on Tuesday.


British wholesale gas prices strengthened slightly on Tuesday as demand rose above the seasonal expectations. St. Fergus gas terminal maintenance have also reduced system capacity. Win2017 contract price rose 1.83% at 47.31 p/therm. NBP spot price settled up 2.73 % comparing with the last closing price, arriving at 39.50 p/therm.


EU carbon emissions rights for Dec '18 delivery dropped by 1.8 percent at 4.90 euros per tonne.


The number of nuclear newbuild projects significantly dropped to a decade low

13/09/2017 17:01:00

A significant decrease in the number of nuclear newbuild projects around the world has been registered by the World Nuclear Industry Status Report (WNISR), hitting a decade low, mainly after the 2011 Fukushima disaster and due to the increasing costs of the atomic energy.


Trafigura signals LNG business expansion in Pakistan

13/09/2017 16:14:00

An LNG import terminal is likely to be opened by the commodities trader Trafigura in Pakistan to satisfy the higher demand for gas in the emerging economies.


Cyprus: New gas discovery offshore considered non-profitable

13/09/2017 15:40:00

Eni and Total have found gas while drilling offshore Cyprus near the giant Zohr gas field discovery in Egypt waters, but the anticipated quantity of the recently discovered field is too small to develop on its own, as stated by Cypriot Energy Minister Yiorgos Lakkotrypis on Tuesday.