Daily (20.03.2017): European year-ahead power prices diverge on lower carbon, stronger coal prices

20/03/2017 09:01 Daily

news

Crude oil prices were mainly flat on Friday, posting minor gains for the week, but speculators considerably cut long positions on worries that an OPEC production reduction was failing to slash a global supply glut.

Brent crude rose by 2 cents to settle at $51.76 a barrel, while U.S. WTI crude jumped 3 cents to end at $48.78 a barrel. Both benchmarks gained 0.8% for the week.

 

European prompt power prices for Monday delivery declined considerably on Friday amid an anticipated rise in output from wind, coal and lignite power generation. German prompt power for Monday delivery fell 31% to 19.67 euros/MWh, compared with the price paid for Friday delivery. The French equivalent contract stood at 25.66 euros/MWh, down 28% day-on-day.

 

Along the year-ahead power curve, prices diverged on Friday tracking lower carbon and stronger coal prices. The benchmark German Cal '18 baseload contract fell 0.70% to 29.39 euros/MWh. The equivalent French contract advanced 0.29% to 34.62 euros/MWh. Dec '18 EU carbon emissions allowances lost 0.19% to 5.18euros a tonne, while coal for 2018 rose 0.09% to $64.56 a tonne.

 

British wholesale gas prices shed on Friday amid an oversupplied system and a milder weather. The British day-ahead gas price slipped 0.86% at 40.55 pence per therm. Curve prices found support from a weaker sterling and higher oil prices. The NBP gas contract for year-ahead delivery increased by 0.40% to trade at 43.63 pence/therm.

 

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

Serbia: Gas imports via Turkish Stream can start in 2019

12/10/2017 15:31:00

Turkey's president Recep Tayyip Erdogan said that starting with 2019, Serbia could get natural gas via Turkish Stream gas pipeline.

<READ MORE

Italy: ERG expands in France

12/10/2017 13:34:00

ERG Eolienne France inked a deal to purchase a 75% interest in two French wind farms with a total capacity of 16.25MW from the local firm Vent d'Est for €12.9 million.

READ MORE

French BNP Paribas promises to cease funding shale oil and gas

12/10/2017 11:56:00

The BNP Paribas Group stated its intention to end cooperation with business entities which operate in shale gas or tar sands fields.

READ MORE