Daily (25.09.2020): German power spot hiked by over 8% on Thursday due to weaker wind generation

25/09/2020 10:10 Daily


Crude oil futures finished slightly higher on Thursday, buoyed by tighter U.S. crude supplies, while the alarming comeback of the pandemic in Europe restrained gains. Hence, Brent crude edged 0.4% higher, to settle at $41.94 a barrel. Meanwhile, U.S. WTI crude rose by 1%, to end at $40.31 a barrel.

Weaker demand for gas from electricity generation plants due to less need for air conditioning dragged down British near-term gas prices on Thursday. As a result, the gas price for day-ahead delivery lost 0.6%, to settle at 32.30 p/therm. Further along the curve, the gas price for year-ahead delivery declined by 1% to 36.99 p/therm despite bullish carbon markets.


European spot electricity prices diverged on Thursday, with the German day-ahead power surging by 8.4% to 41.37 EUR/MWh due to lower wind power generation. The French equivalent power price fell by 3.9% to 41.93 EUR/MWh amid stable nuclear availablity.

Year-ahead power prices weakened amid volatility in the carbon market. Thus, the German Cal’21 power decreased by 1% to 41.07 EUR/MWh, while the similar contract in France settled at 46.99 EUR/MWh, posting a 0.4% daily loss.

EUAs expiring in 2021 added 1.1% to 26.79 EUR/tonne in a volatile trading on Thursday, neglecting another weak auction result and wider market weakness.

Total delivers its first carbon-neutral LNG cargo

21/10/2020 09:05:00

French energy giant Total said it has delivered its first carbon-neutral liquefied natural gas (LNG) cargo.


Denmark, Germany open 400 MW power cable linking Baltic Sea wind farms

21/10/2020 09:00:00

Germany and Denmark have officially opened the world's first hybrid wind interconnector in the Baltic Sea, grid operators 50Hertz and Energinet.dk said Oct. 20


France awards support to 600 MW renewables and 1.5 GW demand response

21/10/2020 08:55:00

French Minister of the Ecological Transition Barbara Pompili has announced the award of support for 600 MW of renewable energy capacity and acceptance of more than 1.5 GW of demand management capacity for the coming winter.