Daily (21.03.2017): European spot power prices skyrocket over 50% on stronger demand, tight supply

21/03/2017 09:22 Daily


Crude oil prices lost ground on Monday despite news that OPEC was supportive of extending a six-month deal to cut output as investors continue to be worried about increasing U.S. oil output and high inventories.


Brent oil for May delivery on the ICE Futures Exchange in London dipped 0.27% to settle at $51.62 a barrel. U.S. West Texas Intermediate crude May contract shed 1.15% to close at $48.22 a barrel.


European spot power prices surged on Monday, spurred by a decline in wind output in Germany, tight nuclear supply and the prospect of a strike at French group EDF's generation plants starting late on Monday. German prompt power for Tuesday delivery skyrocketed 55% at 30.47 euros per megawatt hour (MWh). The same French contract closed at 39.2 euros/MWh, 53% up from Monday.


Along the year-ahead power curve, prices tumbled tracking lower fuels. German year-ahead baseload was down 0.65% at 29.20 euros/MWh. The equivalent French contract decreased by 0.26% at 34.53 euros/MWh.  Europe's carbon benchmark, Dec. '18, lost 2.9% at 5.03 euros/tonne and cif Europe hard coal for 2018 delivery shed 1.41% at $63.65 a tonne.


British prompt gas prices rose on Monday on anticipated stronger consumption for Tuesday. The NBP spot contract jumped 0.99% at 40.95 pence/therm. Further out the curve, prices declined on weaker oil prices and stronger pound.  The April gas contract shed 1.7% to trade at 40.98 pence per therm.


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

Daily (12.12.2017): UK spot gas price rose 11% on colder weather and higher demand

12/12/2017 11:27:00

Oil prices increased on Monday, overcoming declines early in the session, after a North Sea pipeline was closed for repairs and investors concentrated on commodities following an explosion in New York. Brent crude futures ended $1.29, or about 2 percent, higher at $64.69 a barrel.


South west England will have nuclear contracts valued at £50 billion

11/12/2017 16:31:00

Nuclear Industry Association (NIA) considers that over the next 20 years, there will be at least £50 billion nuclear contracts signed in the south west of England.


Russia starts a massive gas project in the Arctic

11/12/2017 16:12:00

Russia started its Yamal gas unit, a huge project in one of the most isolated regions in the world, as this is becoming more accessible because of climate change.