Daily (22.08.2019): NBP spot surged by 5.4% on Wednesday as the outage at Culzean gas field has been extended

22/08/2019 12:09 Daily

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Oil prices diverged on Wednesday. Brent crude price rose due to a higher-than-expected draw in U.S crude stockpiles, while WTI futures dropped due to continued worries about the global economy. Brent crude added $0.27, or 0.5%, to $60.30 a barrel. Meanwhile, WTI crude lost $0.45, or 0.8%, to end at $55.68 a barrel.

British forward gas prices increased on Wednesday as an unplanned outage at the Culzean gas field offshore Britain has been extended until Thursday. Hence, NBP spot climbed by 5.4% to 27.90 p/therm, while the Winter 2019 delivery contract ended 0.2% higher at 47.57 p/therm.

 

European spot power prices fell on Tuesday due to stronger wind and solar supply, and weaker demand in the region . The price for the German day-ahead power contract plunged by 12.9% to 36.31 EUR/MWh. Meanwhile, the equivalent French contract settled 2.2% lower at 33.29 EUR/MWh.

 

Forward electricity prices also nudged down, tracking weaker carbon prices. The price for the German power contract for delivery 2020 traded 0.9% lower at 48.34 EUR/MWh, while the equivalent French contract settled 1% down at 49.89 EUR/MWh.

 

European carbon prices failed again to maintain earlier gains, settling close to the €26 level on Wednesday, due to weak trading activity. The 2019-expiry contract lost 0.9% to trade at 26.02 euros/tonne.

 

Daily (19.09.2019): French year-ahead power price surged by 4% on Wednesday, amid eased French nuclear reactor worries

19/09/2019 12:02:00

Crude oil prices continued to fall on Wednesday, as U.S. President chose to impose substantially increased sanctions rather than military action against Iran, while expressing U.S. readiness for the second measure. Further pressure came from Saudi Arabia’s commitment to bring its oil production back to pre-attack levels by the end of September. A surprise build in the U.S. crude inventories last week put more pressure on prices. As a result, Brent crude dropped by 1.5% to 63.60 USD/bbl, while WTI futures dipped by 2.1% to 58.11 USD/bbl.

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Encavis signs power purchase agreement for solar park in Spain

19/09/2019 09:30:00

German wind and solar energy company Encavis has signed a ten-year power purchase agreement (PPA) with an undisclosed international energy company for a solar park with 300MW capacity located in Talayuela, Central Spain.

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Romania's Cernavoda NPP shuts down Unit 1 for remediation works

19/09/2019 09:27:00

Romania's Cernavoda nuclear power plant (NPP) has shut down its Unit 1 in a controlled manner on Wednesday morning for remediation works to a process parameter, Cernavoda operator Nuclearelectrica said.

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