Daily (24.06.2019): NBP spot surged by 2.2% on Friday tracking the rise in oil prices

24/06/2019 11:10 Daily


Oil prices surged on Friday on fears that the United States could attack Iran, which might lead to disrupted flows from the Middle East. Brent crude gained $0.75, or 1.2%, to close at $65.20 a barrel. WTI futures added $0.38, or 0.6%, to close at $57.43 a barrel.

British wholesale gas prices had an upward trend on Friday, tracking higher oil prices. Despite expectations for more LNG cargoes from Qatar, the NBP day-ahead gas price rose by 0.40 pence, or 2.2%, to settle at 27.60 pence/therm. At the same time, Winter 2019 delivery contract settled 2.3% higher at 51.36 pence/therm.

European prompt power prices fell on Friday on predictions for higher renewable electricity output. German day-ahead power price tumbled by 18.3% to 31.63 euros/MWh. The French spot power price sank by 28.3% to 24.31 euros/MWh.

Further along the curve, electricity prices soared on Friday amid a bullish energy complex. The German power contract for delivery in 2020 settled 1.3% higher at 47.52 euros/MWh. The French equivalent  contract ended 1% up at 50.49 euros/MWh.

European carbon prices were bullish on Friday due to a stronger gas market and a consolidated energy complex. A stronger euro which hit the highest level in three weeks also supported prices. The 2020- expiry contract ended 0.8% higher at 25.61 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).