Daily (20.06.2019): NBP spot tumbled by more than 10% on forecasts for stronger LNG supply and warmer weather

20/06/2019 10:53 Daily


Calmer U.S equity markets led to a decline in oil prices on Wednesday. Brent crude ended 32 cents, or 0.5%, down at $61.82 a barrel. Meanwhile, WTI futures lost $0.14, or 0.3%, to close at $53.76 a barrel.

UK gas prices dropped on Wednesday on expectations for new LNG supply and higher temperatures for the next week. NBP spot price fell 3.05 pence, or 10.1%, to trade at 27.15 p/therm. Further along the curve, the Q3 2019 delivery contract settled 4.2% lower at 28.37 p/therm.


European prompt power prices were mixed on Wednesday. The German spot electricity price lost 11.7% to close at 36.39 euros/MWh, as holiday in certain parts of Germany reduced demand. However, the French day-ahed power price surged by 4.6% to end at 34.66 euros/MWh, on prospects of lower supply.


Further along the curve, prices lost ground on Wednesday, tracking a bearish energy complex. The German Cal 2020 delivery contract inched 1.5% down at 46.97 euros/MWh. The French equivalent contract traded 1.2% lower at 49.98 euros/MWh.


European carbon prices had a downward evolution on Wednesday, staying however close to the €25 level, as the Jun-19 options expired. The carbon contract expiring in 2019 ended 0.6% lower at 24.96 euros/tonne.

Polish LNG terminal receives 64th cargo

18/07/2019 08:20:00

Polish liquefied natural gas import facility the President Lech Kaczyński terminal in Świnoujście has received a new cargo on Tuesday, July 16.


France's Akuo Energy, IEL Energie sign MoU to develop wind farm in Serbia

18/07/2019 08:18:00

France's Akuo Energy and IEL Energie have signed a memorandum of understanding (MoU) with Serbia's autonomous province of Vojvodina for the construction of the Basaid wind farm, Serbian energy minister Aleksandar Antic said.


Iberdrola secures financing of the 500 MW »Núñez de Balboa« PV solar plant in Spain

18/07/2019 08:07:00

The European Investment Bank (EIB) and the Instituto de Crédito Oficial (ICO) will finance the development of the »Núñez de Balboa« PV solar plant, which Spanish solar project developer Iberdrola is currently building in Extremadura (Spain).