Daily (12.12.2018): Carbon prices slumped by more than 3% on Tuesday

12/12/2018 12:01 Daily

news

Oil prices rose slightly on Tuesday, due to weaker equity markets and worries about a possible U.S. government closure following Trump’s declaration related to the Mexican Border Wall. Brent crude edged 0.4% higher at $60.2 a barrel. Additionally, Libya's National Oil Company (NOC) stated that a force majeure situation occurred at the nation's major oilfield. WTI crude soared by 1.3% to $51.65 a barrel.

UK wholesale gas prices continued the bullish evolution on Tuesday, as forecasts for cooler weather and stronger demand for heating provided support. NBP spot price surged by 1.4% to 63.95 p/therm. The contract for January 2019 delivery traded 1.2% higher at 65.25 p/therm. 

 

European power spot prices extended gains on Tuesday, due to reduced wind generation and predictions of colder weather. The German contract for Wednesday delivery closed 26.3% up at 69.91 EUR/MWh. The equivalent spot contract in France was 14% higher at 71.01 EUR/MWh.

 

On the forward electricity curve, prices tracked bullish oil and gas markets. The Cal’19 delivery contract in Germany traded at 58.11 EUR/MWh, while the same French contract was at 52.28 EUR/MWh, both gaining 0.4%.

 

EUA’s prices slumped on Tuesday, settling below the €21 level one day before the options expiry. Furthermore, the events related to Brexit put more pressure on prices. The carbon contract expiring in 2019 ended 3.3% down at 20.51 euros a tonne.

EBRD supported 262 MW of solar generation capacity in Kazakhstan

24/06/2019 11:39:00

The European Bank for Reconstruction and Development (EBRD) is currently reviewing a €300 million ($341 million) debt financing for renewable energy generation and grid transmission for the integration of renewable energy generation projects in Kazakhstan called »Kazakhstan Renewables Framework II«.

<READ MORE

Nigerian LNG cargo heading for Portugal

24/06/2019 11:37:00

REN’s Sines LNG terminal located on Portugal’s Atlantic coast is scheduled to receive a cargo of liquefied natural gas from Nigeria.

READ MORE

Ørsted selected to build 1.1GW offshore wind project in New Jersey

24/06/2019 11:34:00

The New Jersey Board of Public Utilities (NJBPU) has selected Danish energy giant Ørsted as a preferred bidder for Ocean Wind, the first offshore wind project in the state with 1.1GW of capacity.

READ MORE