Daily (20.10.2017): German year-ahead power contract ended 18.5% down on Thursday after having hit a peak of 3 years and 9 months

20/10/2017 10:59 Daily


Oil prices fell on Thursday, pressured by bigger-than-anticipated product inventories in the United States and some profit-taking after the latest run-up in oil benchmarks. Brent crude futures traded 92 cents, or 1.6 percent, lower at $57.23 from Wednesday's mid-week peak of $58.15 a barrel.

Continuing tension in the Middle East has kept a bid under the market as lower flows from the Iraqi Kurdish pipeline via Turkey have increased concerns about supply. U.S. West Texas Intermediate (WTI) crude ended Thursday's session down 75 cents, or 1.4 percent, at $51.29 per barrel. 


British wholesale gas prices dropped on Thursday as weaker demand left the system oversupplied. Lower European coal and electricity prices aided to spur losses on UK gas contracts, which had found support from them in previous sessions, as stated by market participants. NBP day-ahead gas price decreased by 0.95 pence, or 2.1%, to end at 44.55 p/therm. Further along the curve, Summer 2018 delivery contract traded 0.9% down at 42.94 p/therm. 

German year-ahead power prices attained their highest levels in three years and nine months in early trade on Thursday but reversed direction with the related coal market and on effects from sell-offs on the French electricity curve. German baseload contract for delivery in 2018 was at 36.58 euros/MWh, down 0.24 euros, or 0.7%, having earlier hit a high since February 2014.

European prompt power prices for day-ahead delivery slumped on predictions of higher electricity generation from German wind turbines. The German baseload power price for Friday fell 18.5 percent to 37.76 euros/MWh and the equivalent French price dropped 8.4 percent to 52.26 euros. It stands at a high premium over Germany due to nuclear concerns.

European carbon prices tumbled on Thursday after having attained a 21-month high, on profit-taking and fears related to the EU’s Brexit-proofing revision. December 20218 expiry EU carbon permits closed 2% down at 7.68 euros a tonne.

Daily (16.10.2018): EU carbon prices dropped by more than 9% in a weaker session on Monday as Brexit deal not reached yet

16/10/2018 11:23:00

Oil prices increased on Monday, backed by geopolitical tensions after the disappearance of a Saudi journalist, fueling supply worries from the world’s top crude exporter. The price increase was tempered nonetheless by long-term demand concerns. Therefore, Brent crude price rose by 0.4% to settle at $80.78 a barrel.


Romania has the lowest energy consumption in the EU

16/10/2018 09:03:00

Romania has the lowest energy consumption per capita in the European Union and needs to increase its domestic consumption by expanding distribution networks and investing in new natural gas-based power plants.


Scottish Power to use 100% wind power after sale to Drax

16/10/2018 08:57:00

Scottish Power will become the first major UK energy company to generate all its electricity from wind power instead of coal and gas, after selling its final gas and hydro stations to Drax.