Daily (19.08.2020): NBP spot at a 5-month high on Tuesday amid higher LNG prices globally

19/08/2020 10:18 Daily


Crude oil futures barely changed on Tuesday as the market participants watched the upcoming U.S. government data expected to show a fourth straight weekly drop in stockpiles. However, OPEC+ high compliance with supply cuts in July added little support to oil prices. Consequently, Brent crude rose by 0.2% to settle at $45.46 a barrel. At the same time, U.S. WTI crude remained unchanged at $42.89 a barrel.

British near-term prices approached five-month highs on Tuesday, with NBP spot surging by 6% to 22.00 p/therm, spurred by stronger worldwide LNG gas prices. Longer-dated contracts gained ground, spurred by bullish carbon and oil markets. As a result, the gas price for year-ahead delivery firmed by 0.9% at 35.13 p/therm.

European spot electricity prices reversed earlier gains on Tuesday, with the German day-ahead power plummeting by 9.8% to 38.23 EUR/MWh amid stronger solar energy generation which prevailed over weaker wind power output. The French equivalent contract dived by 7.6% to 38.14 EUR/MWh.

Year-ahead power prices increased, taking a cue from a bullish energy complex. Hence, the German Cal’21 power rose by 1.6% to 40.17 EUR/MWh, while the similar contract in France advanced by 1.3% to 45.33 EUR/MWh.

EUAs expiring in 2021 surged by 0.9% to 26.89 EUR/tonne, buoyed by a stronger auction.

Daily (17.09.2020): An unexpected drop in US crude inventories boosted WTI crude by 5% on Wednesday

17/09/2020 13:33:00

Daily (17.09.2020): An unexpected drop in US crude inventories boosted WTI crude by 5% on Wednesday


Vattenfall repowers Dutch community wind farm

17/09/2020 09:18:00

38MW Jaap Rodenburg will host 10 turbines two of which will be owned by Almeerse Wind


European geothermal sector joins call for carbon price on heating and cooling

17/09/2020 08:58:00

The European Geothermal Energy Council is advocating for a carbon price to be put on heating and cooling in the European Union. Only with a fair price for all forms of energy and the real cost attached will it be able to reach the ambitions carbon neutral goal by 2050.