E.ON sold German nuclear power forward at below-market levels

08/08/2019 08:30 Nuclear

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German utility E.ON said on Wednesday it had sold forward the bulk of its nuclear generation volumes for 2019, two thirds of those for 2020 and a third of 2021 at prices below the current wholesale market.

Some 91% of its German nuclear power output in 2019 from reactors at the Preussen Elektra unit was sold at 31 euros ($34.71) per megawatt hour (MWh), according to slides prepared for an analyst call on its first-half financial results.

 

Some 62% of 2020 output was sold at 46 euros, while 36% of 2021 output was sold at 46 euros, the slides showed.

 

The hedge rates of forward production volumes are tracked by traders and analysts.

 

The German wholesale price for round-the-clock power delivered in 2020 last traded at 50.1 euros/MWh, Refinitiv Eikon data showed. It is not far off nine-month highs hit in late July, when they were driven by carbon price gains and a summer heatwave.

Source: reuters.com

Ofgem gives conditional nod to 220-MW Scottish interconnector plan

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16/09/2019 11:55:00

Crude oil prices traded lower on Friday, amid worries over global economic slowdown and thinner oil demand. WTI futures fell by 0.4% to $54.85 a barrel, while Brent crude edged 0.3% down at $60.22 a barrel, heading for the first weekly fall in three and five weeks respectively. Nevertheless, crude prices are expected to spike after a drone attack on two Saudi Aramco oil facilities on Saturday, which slashed by 50% Saudi Arabia’s oil output, or the equivalent of 5% in the global oil supply.

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