Daily (26.11.2020): European power prices soared on Wednesday amid colder weather outlook and lower wind generation

26/11/2020 10:33 Daily


Crude prices hit an eight-month high on Wednesday, supported by a drop in US oil stocks, progress on the coronavirus vaccine and optimism ahead of the next OPEC+ summit. As such, Brent crude rose by 1.6% to $48.61 a barrel, while WTI oil ended 1.8% higher at $45.71 a barrel.

Wednesday trading saw a boosted prospect in gas for heating demand amid colder weather outlook, thus pushing the NBP spot price 3.1% higher at 40.00 p/therm. At the same time, an increase in oil prices lent support to gas contracts on the curve. As a result, the Summer 2021 gas contract traded 0.9% higher at 32.70 p/therm.


European power prices jumped on Wednesday on the back of colder weather outlook and lower wind generation. As a result, the German day-ahead power prices closed 20.7% higher at 56.55 EUR/MWh, while the French spot power price soared by 15.2% at 54.68 EUR/MWh.


Contracts on the curve also gained ground on Wednesday, supported by stronger fuel prices. Hence, the German Cal’21 power contract traded 2.7% higher at 41.05 EUR/MWh, while its French counterpart ended 2.9% up at 44.76 EUR/MWh.


European CO2 prices were almost unchanged on Wednesday, despite progress on the coronavirus vaccine and positive hopes for a smooth US presidential transition. Hence, the EUA expiring in December 2020 closed rather flat at 27.62 EUR/tonne.

Daily (22.01.2021): Carbon prices rose by nearly 4% on Thursday, supported by investor’s interest and cold weather outlooks

22/01/2021 11:16:00

Oil prices closed rather flat on Thursday. The United States’ return to the Paris climate agreement and the discontinuation of the Keystone XL pipeline project put pressure on oil prices. On the other hand, prices received support from the US fiscal stimulus package. Consequently, Brent oil settled on par with Wednesday’s close at $56.10 a barrel, while WTI crude edged 0.3% lower at $53.13 a barrel.


Terna Energy to build 265 MW of floating PV plants in Greece

22/01/2021 09:02:00

Greek renewable power producer Terna Energy (ATH:TENERGY) is seeking permission to install 265 MW of floating solar plants in artificial reservoirs in central Greece.


New nuclear needed for UK energy security

22/01/2021 08:58:00

The UK government must continue to support nuclear power generation if the country is to meet an expected doubling of electricity demand by 2050 while meeting its Net Zero ambitions, according to a new report from the Centre for Policy Studies (CPS). The think tank recommends the government explore innovative financing methods for the construction of new nuclear power plants.