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.

Daily (12.11.2019): French spot power price surged by over 16% on forecasts for higher demand amid colder weather

12/11/2019 11:17:00

Oil prices dropped on Monday due to a lack of direction in the U.S- China trade negotiations. Hence, Brent crude closed 0.5% lower at $62.18 a barrel, while WTI futures fell by 0.7% to $56.86 a barrel.


Mongolia exports 32.3 million tons of coal as of first ten months

12/11/2019 10:35:00

Mongolia planned to export 42 million tons of coal in 2019. According to statistics of Mongolian General Customs Administration, Mongolia has exported 32.3 million tons of coal as of first ten months of 2019 which means there is a necessity to export 9.7 tons of coal in order to reach the goal. But the People’s Republic of China appears to maintain its coal import at 200-300 million tons so that the amount of coal export has a tendency to slow down in the last months of 2019 according to Bloomberg.


NTT to spend 600 billion yen on own grids for power business

12/11/2019 10:25:00

Nippon Telegraph and Telephone has decided to build its own power grids. Japan's largest telecom company plans, beginning in the year ending March 2021, to sell electricity from storage batteries at its roughly 7,300 office buildings around the country, mainly to hospitals and factories.