Daily (11.01.2019): German spot power price fell by 26% on Thursday due to strong wind generation

11/01/2019 11:45 Daily

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Oil prices edged slightly higher on Thursday, tracking bullish equity markets following comments from the U.S. Federal Reserve chairman. However, gains were capped by waning optimism about the three-day U.S.-China trade talks, as these finalized with no concrete details. Concerns about a potential slowdown in global economy fuelled by weaker Chinese economic data also limited the rally in oil markets. On that background, Brent crude inched 0.4% up to $61.68 a barrel, while WTI futures settled 0.4% higher at $52.59 a barrel.

British gas prices posted modest gains on Thursday, due to colder weather. Moreover, Norway’s oil industry regulator announced production difficulties at several fields and start-up delays, weighing down on flows. NBP spot edged 0.2% up at 58.20 p/therm, while the NBP contract for delivery in Summer 2020 traded 0.6% higher at 49.35 p/therm.

 

European spot electricity prices plunged on Thursday. The German power contract for day-ahead delivery plummeted by 26.2% to 49.92 EUR/MWh on stronger wind output and lower demand. The equivalent French contract price dropped by 5.6% to 65.34 EUR/MWh due to rising temperatures and weaker consumption.


On the forward curve, electricity prices were in a slightly bullish mood, tracking fuels and carbon emission rights prices. German power contract for delivery in 2020 was almost flat at 47.99 EUR/MWh. The equivalent French contract gained 0.6% to close at 51.45 EUR/MWh.
European carbon prices rose above 22 euros on Thursday in a strong session. The 2021-expiry contract closed 0.3% up at 23.22 euros a tonne.


European carbon prices rose above 22 euros on Thursday in a strong session. The 2021-expiry contract traded 0.3% higher at 23.22 euros a tonne.

Daily (20.08.2019): Brent crude surged by around 2% on Monday on worries about global oil supplies

20/08/2019 11:19:00

Crude oil prices rose on Monday after Yemen’s Houthi forces used a drone to attack an oilfield in eastern Saudi Arabia on Saturday, threatening global oil supplies. Brent crude added $1.1, or 1.9% to settle at $59.74 a barrel. WTI futures gained $1.34, or 2.4% to end at $56.21 a barrel.

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EBRD Finances Private-to-Private Solar Project in Jordan

20/08/2019 08:25:00

The European Bank for Reconstruction and Development together with its partners is supporting a pioneering energy project in Jordan with a financial package of up to $35 million. The project will enable the telecom operator Orange Jordan to cover part of its demand with clean energy generated in solar plants.

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Belene project attracts five expressions of interest

20/08/2019 08:21:00

Five companies have expressed interest in Bulgaria’s invitation for strategic investment in the construction of Belene nuclear power plant on the Danube River near the Romanian border. According to national newspaper 24 Chasa, China National Nuclear Corporation, Framatome, General Electric, Korea Hydro and Nuclear Power and Rosatom have all applied for the selection process.

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