Friday, November 22, 2024

Energy Supply News

German spot price rises due to lower wind supply

On Monday, the German spot electricity price increased as it was expected that wind and solar production would fall on Tuesday while demand is expected to rise. By 0901 GMT on Tuesday, the German baseload electricity price was 123 euros per megawatt-hour (MWh), up 36.9% compared to Friday's price for Monday delivery.

German Monday contracts are affected by the increase in wind power supply

German spot electricity prices for Monday dropped on Friday, as the wind generation in that region is expected to be higher than usual next week. However, power demand will also rise. LSEG data shows that the German contract price was 90 euros per Megawatt-hour (MWh), down 26.8% compared to the price paid on Friday. LSEG data revealed that the equivalent French contract was not traded.

Gas and Carbon Forward Contracts are on the Rise

The European power contracts for the year ahead were released on Friday. They reflect higher carbon permits as well as gas contracts. LSEG data show that the German 2025 baseload price rose by 1.7%, to 91.14 euros per megawatt-hour (MWh), at 1111 GMT. It had previously reached a high of 91.25 euro/MWh for two weeks. The equivalent French position increased 3.2% to 77.15 Euro/MWh.

Spot prices rise due to low renewables production and increasing demand

European spot electricity prices rose to multi-month highs Monday. Renewables are expected to continue to be low, while demand is projected to increase. By 0901 GMT, the German baseload contract for Tuesday had reached its highest level since June 25, at 145 Euros ($157.99 per megawatt-hour (MWh). On Friday, during the All Saints Holiday, no equivalent price was traded.

What are the differences between Trump and Harris' energy policies?

Both Donald Trump, a Republican, and Kamala Harrias are Democrats. They both want to increase production while keeping prices low for consumers. The main difference is that Harris wants to favor clean energy technologies that are crucial in fighting climate change. Trump, on the other hand, would roll back green regulations which hinder oil and coal drilling.

Net zero target needs $3.5 trillion in annual green energy investment, Wood Mackenzie says

Wood Mackenzie's report on Tuesday said that the investment in green energy must double every year to $3.5 trillion if we are to reach the Paris Agreement goal of net zero emissions by the year 2050. The consultancy's report said that, in addition to the investment gap, global efforts to switch to cleaner energy…

Palm trades in a sideways manner; weak Ringgit and technical buying limits losses

Technical buying and the weaker ringgit helped limit its losses. At the close, the benchmark contract for palm oil delivery in January on Bursa Derivatives Exchange dropped 6 ringgit or 0.13% to 4,530 Ringgit ($1,039.47). The contract fell 1.59% in two consecutive sessions. A Kuala Lumpur trader reported that the crude palm oil futures recovered from its early losses by midday…

Discounts are maintained in France despite prices falling in Germany

German spot electricity prices for Thursday dropped on Wednesday due to expectations of a higher wind energy supply and lower demand. Meanwhile, those in France rose from a lower baseline, but still maintained a discount compared to the neighboring market. LSEG data revealed that the German baseload power contract…

Slovakia has a strong interest in ensuring transit of Russian gas and oil via Ukraine

Robert Fico, the Prime Minister of Slovakia, said that the country has a great interest in continuing the flow of oil and gas from Russia through Ukraine to the West. He added that the European Commission was putting pressure on the country to stop these supply flows. Fico said to reporters that the Slovak government and Ukrainian cabinet would meet on Monday.

Spot prices rise due to a projected drop in wind energy supply

The European spot power price continued to rise on Tuesday. Wind power is expected to continue to decrease in the region on Wednesday. LSEG data show that German baseload power for the day ahead rose by 39.8%, to 97.50 Euros ($108.23), per megawatt-hour (MWh), at 0818 GMT. The French contract, which is equivalent to the English contract, added 42.9% or 85 euros/MWh.

Lower renewables lifts spot price

On Monday, the German spot electricity price increased as expected declines in wind and solar production and increasing demand placed bullish pressure on day-ahead prices. By 0933 GMT on Tuesday, the German baseload electricity price was 69.75 Euros per megawatt-hour (MWh), up 33.5% compared to Friday's price for Monday delivery.

EU limits Chinese participation in hydrogen auctions by changing the rules

In a bid to reduce the EU's dependence on China for its renewable energy supply, new terms published by the European Union on Friday revealed that it had made changes to its rules regarding auctions of hydrogen grants. China is a major player in the solar and electric vehicle industries, and it has also become more competitive with European wind energy producers.

German wind power expected to fall in the next week

The spot prices for Monday's trading were not traded until early Friday morning, due to the expected fall in German wind energy supply over the coming week. LSEG data revealed that the German and French Monday Baseload Power contracts were not traded at 1014 GMT. The German contract had an asking price of 68 Euros ($75.87 per MWh) for the German contract.

Natural gas producers ask Harris for answers on the battleground state

Drillers from Pennsylvania, an energy-rich state, called on Democratic presidential nominee Kamala Harris this week to explain her stance on natural gas. The energy industry touts it as a clean fuel but climate activists claim that the fuel is a threat to global warming. In January, President Joe Biden froze new LNG export permits to examine their environmental impact.

Wind power production increases impact on spot prices

The European wholesale electricity prices dropped on Tuesday, as forecasts showed a doubled wind power generation capacity in Germany. Demand in the region was not affected by this change. The daily report by LSEG analyst Francisco Gaspar Machado predicted more renewables, but less gas, lignite and nuclear capacity. The hard coal capacity was on the rise.

Austrian election puts Russian gas habits and a sputtering economic in focus

After the general elections on Sunday, the government in Austria that comes to power will be under increasing pressure to diversify their energy supply and move away from dependence upon Russian gas. This is happening at a time when Austria's economy is in reverse. A majority is not expected from any party. Opinion polls show that the far-right Freedom Party (FPO)…

The rising German wind power generation is a factor in spot prices

European prompt electricity prices fell on Friday, as a result of expectations that German wind energy supply will double on Saturday. Riccardo Paraviero, LSEG analyst, said: "The fundamental outlook (for Friday) is decisively negative. He added that wind power production could reach 25 gigawatts during certain periods.

German wind power generation on the rise: Spot prices drop

German wind power is expected to double in supply on Tuesday, causing the European spot electricity prices to fall on Monday. German baseload electricity for Tuesday, at 0904 GMT was 58.45 Euros ($64.58 per megawatt-hour (MWh), down 50% from Friday's price for Monday's delivery. LSEG data revealed that the equivalent French contract was 37.65 Euros/MWh.

How Trump will try to undo Biden's environmental legacy

© assetseller / Adobe Stock

Donald Trump, the presidential hopeful, has outlined an energy policy that focuses on maximizing U.S. power and fuel output. This includes dismantling Biden's main efforts to combat climate change. The Republican campaign for the former president has stated that President Joe Biden's efforts in supporting the adoption…

Spot prices are at a multi-month high on a drop in supply and rising demand

European spot electricity prices reached multi-month highs Monday, driven by a decline in regional wind power and an expected increase in demand. By 8:10 AM GMT, the price of German baseload electricity for Tuesday had risen by 24.8% compared to Friday's price for Monday's delivery. The contract reached its highest level since June 25, at 133.75 euro.