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

19/04/2017 10:10 Daily

news

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.

 

Russia aims strategic energy partnership with China

21/11/2017 16:13:00

Russian oil giant Rosneft has signed an agreement with Chinese company CEFC Energy, aiming crude oil supply. The accord is based on a long-term deal inked between parties earlier. The delivery will start next year.

<READ MORE

The boost of low-cost renewables changes EU energy expectations for 2030

21/11/2017 13:54:00

The accelerated fall in wind and solar energy costs, and flexible demand technology could substitute more than 50% of coal and gas generated electricity in Europe by 2030, as indicated in a recent research published on Tuesday.

READ MORE

Bosnia inks a 60-million-euro loan agreement with KfW bank for Hrgud wind farm

21/11/2017 11:32:00

Bosnia's finance minister Vjekoslav Bevanda inked an agreement with German development bank KfW on Wednesday to financially back the construction of the Hrgud 48 MW wind farm. The loan is estimated at 60 million euros ($69.6 million). ​​​​​​​

READ MORE