Daily (13.11.2019): British spot gas price spiked by 6.5% on Tuesday on higher gas-for-power demand

13/11/2019 11:31 Daily


Oil prices nudged down on Tuesday on no new details after Donald Trump’s speech about the China-U.S. trade negotiations  Meanwhile, concerns regarding slower economic growth and weaker oil demand still kept prices under pressure.  Brent crude fell by 0.2% to $62.06 a barrel, while WTI futures edged 0.1% lower at $56.80 a barrel. 

The British day-ahead gas price rose on Tuesday as cold weather increased gas-for-power demand. NBP spot surged by 6.5% to 39.03 p/therm. At the same time, the forward contracts traded lower due to an oversupplied system. The 2020 delivery contract closed 1.3% down at 41.21 p/therm.


European day-ahead power prices added ground on Tuesday. German spot power price surged by 11.6% to 47.08 euros/MWh due to higher power demand. Similarly, the French day-ahead electricity price jumped by 16.6% to 56.49 euros/MWh, to hit their highest level in over 9 months on Tuesday, after French utility EDF sent three nuclear reactors offline for earthquake-related tests this week.
Further along the curve, power contracts fell on Tuesday, tracking the downward evolution in gas and carbon prices. The German 2020 delivery contract ended 1.7% lower at 45.45 euros/MWh. The French equivalent contract closed 1.2% lower at 48.06 euros/MWh. 
European carbon prices had a downward trend on Tuesday reaching a one-month low due to bearish technical indicators and Germany’s plans to cancel major coal volumes during 2020 and 2021. Hence, the 2019-expiry contract traded 3.3% lower at 24.12 euros/MWh.

Oil Leaders at Davos Debate Tougher CO2 Cuts as Pressure Mounts

27/01/2020 09:14:00

The bosses of some of the world’s biggest oil companies discussed adopting much more ambitious carbon targets at a closed-door meeting in Davos on Wednesday, a sign of how much pressure they’re under from activists and investors to address climate change.


Russian gas exports helping Asia & Europe to transition to cleaner energy

27/01/2020 09:09:00

Russia will continue to be the biggest player on the global energy market with plans to increase natural gas deliveries to Europe and Asia, according to the head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev.


Habitat Energy and Gresham House conclude UK’s largest merchant battery storage tie-up

27/01/2020 09:00:00

Habitat Energy has announced that it has successfully reached an agreement with the Gresham House Energy Storage Fund to optimize 74 MW of Energy Storage System (ESS) projects in the UK. The multi-year agreements comprise three existing projects: a 20-MW ESS in Wiltshire, a 5-MW ESS in Wolverhampton and the recently-commissioned 49-MW ESS project located on the Red Scar Business Park outside Preston which the Fund acquired on 31 December 2019.