Daily (06.07.2018): German day-ahead electricity price slumped by 7.7% due to rising wind supplies

06/07/2018 11:44 Daily


Oil prices dropped on Thursday, due to rise in U.S. crude inventories concerning the potential trade war between world’s major economies - China and the United States. Brent crude slipped by 1.1% to $77.39 a barrel, while WTI crude dropped by 1.9% to $72.94 a barrel.

UK gas contracts were bullish on Thursday, despite the downward evolution in oil and coal prices. NPB spot price surged by 1.2% to 57.3 p/therm, due to lower temperatures and weak wind output. At the same time, the August 2018 delivery contract traded 1.2% higher at 57.97 p/therm.


European spot power prices continued their bearish trend on Thursday, as forecasts for rising wind supplies weighed down on demand for air conditioning.


The German day-ahead delivery contract lost 7.7% to settle at 47.81 EUR/MWh, while the French equivalent contract slumped by 7.3% to close at 51.86 EUR/MWh.

Further along the curve, German Cal 19’ delivery contract gained 0.9% at 44.55 euros/MWh and the French year-ahead power contract ended 1.3% up at 49.43 euros/MWh.


European carbon prices set a monthly record on Thursday, as expansion in power stirred auction on predictions of increased demand from utilities in the upcoming months. The carbon contract expiring in 2021 ended 1.1% higher to 16.74 euros a tonne.

Gazprom confirms first gas via TurkStream by December

16/05/2019 09:15:00

Russia's Gazprom expects to send its first gas through the TurkStream natural gas pipeline to Turkey by the end of December, Gazprom's deputy chairman Vitaly Markelov said late Tuesday.


GE Steam Power and partners synchronize 900MW power unit to Polish grid

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GE Steam Power, Polska Grupa Energetyczna (PGE) and the GE-led consortium partners have synchronized the Opole Unit 6, with 900MW generating capacity, to the Polish grid.


Norway approves extension to giant oilfield

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Authorities in Norway have formally approved the development and operation of the second phase of the giant Johan Sverdrup oil field.