Daily (03.01.2020): German spot power dips 33% on Thursday as wind output is set to double

03/01/2020 10:22 Daily


Crude oil prices posted modest gains on Thursday on escalating tensions in the Middle East and signs that the initial trade deal with China at the White House will be inked this month. Nevertheless, a stronger U.S. dollar limited the gains.

Brent crude for March delivery rose by 25 cents, or 0.4%, to settle at $66.25 a barrel. WTI crude added 12 cents, or 0.2 % to close at $61.18.

An oversupplied system caused by stronger LNG supplies weighed on the British prompt gas prices on Thursday. NBP spot gas ended at 26.75 p/therm, down 1.5% day-on-day.


Further along the curve, prices also declined. The February 2020 gas price fell slightly to 31.03 p/therm, while gas for delivery in March slipped by 1.4% to trade at 30.63 p/therm.


European spot power prices plunged on Thursday, as wind energy output is expected to more than double in Germany and due to higher nuclear availability in France. German power for day-ahead delivery fell sharply by 33% to 26.11 EUR/MWh, while the French equivalent contract dipped by 6.7% to 36.84 EUR/MWh.


Along the forward curve, prices were bearish on Thursday due to weaker gas and carbon prices. German year-ahead contract settled at 44.13 EUR/MWh, while the French equivalent contract traded at 45.65 EUR/MWh.


The carbon contract expiring in 2020 declined by 0.2% to stand at 24.58 EUR/tonne, amid a bearish energy complex.

Britain to invest 90 million stg to cut emissions from homes, industry

19/02/2020 09:15:00

Britain will invest 90 million pounds ($117 million) on measures to cut carbon dioxide emissions from homes and industry, including two hydrogen plants, the government said on Tuesday.


Daily (19.02.2020): NBP spot soared by 2.8% on Tuesday due to weak LNG supply

19/02/2020 09:22:00

Oil prices were almost unchanged on Tuesday in a market still concerned about the coronavirus epidemic and its economic consequences. Brent crude for April delivery rose by 8 cents, or 0.14%, to end at $57.75 per barrel. On the other side, WTI crude slipped by 0.5% to settle at $52.05 per barrel.


Green light to Lundin for Barents Sea wildcat

19/02/2020 09:17:00

The Norwegian Petroleum Directorate has granted Lundin Norway a drilling permit for a well in the Barents Sea offshore Norway.