Daily (19.11.2019): NBP spot fell by 2% on forecasts for lower heating and gas-for-power demand due to milder weather

19/11/2019 10:40 Daily

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Oil prices lost ground on Monday amid uncertainty over a trade agreement between the U.S. and China. Furthermore, worries about crude oversupply also put pressure on oil contracts. Brent crude dropped by 1.4% to $62.44 a barrel and WTI futures fell by 1.1% to $58.05 a barrel.

British wholesale gas prices declined on Monday on expectations for lower heating and gas-for power demand due to milder weather. NBP spot dropped by 2% to 38.33 p/therm. At the same time, the Summer 2020 delivery contract ended 2.2% lower at 38.01 p/therm.

 

European prompt power prices surged on Monday on forecasts for higher demand. The German spot power price soared by 22% to 46.49 euros/MWh. Moreover, the French day-ahead power price bolstered by 38.5% to 64.10 euros/MWh.

 

Along the curve, contracts were bearish on Monday, due to weaker carbon markets. The German Cal20’ delivery contract ended 0.9% lower at 45.13 euros/MWh. The French equivalent contract closed 0.8% down at 47.82 euros/MWh.

 

European carbon prices continued their bearish trend despite a stronger auction on Monday, to hit a six-week low, because of weaker energy markets. The carbon contract expiring in 2021 traded 1.8% lower at 23.79 euros/tonne.

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

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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.

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Daily (24.01.2020): Energy prices in a bearish mood on Thursday on worries about coronavirus, weaker demand and milder weather

24/01/2020 11:16:00

Oil prices ended lower on Thursday as the rapid spread of the new coronavirus could dent demand for black gold. Oversupply concerns, despite oil production disruption in Libya, also put pressure on prices.

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Exxon Prepares Sale Of UK, German Oil & Gas Assets

24/01/2020 11:06:00

As part of its global program to sell assets, ExxonMobil is about to launch a process to sell its upstream oil and gas operations in the UK and Germany, Bloomberg reported on Thursday, quoting people familiar with the plans.

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