Tuesday will continue to see high wind energy supply
The European spot baseload electricity prices continued to be low on Monday due to the high wind energy supply in the region. This is a continuation of the growth that has been occurring since last Thursday. As of 816 GMT on Tuesday, German baseload electricity was not traded at a price of 22 euros per megawatt-hour, down from the Friday closing price of 21 euro.
German spot price Monday is impacted by higher wind supply
On Monday, a surge in wind energy generation in Germany will offset a reduction in solar output to drive down baseload electricity prices. LSEG data shows that the German and French baseload power contracts TRDEBD3,TRFRBD3 had not been traded by 825 GMT Friday. LSEG data revealed that the day-ahead contracts were closed at 57 euros/MWh on Thursday and 16.4 euro/MWh on Friday.
US Energy Secretary downplays climate risk as Washington seeks EU Gas Deals
Chris Wright, the U.S. Energy secretary, downplayed climate change risks on Thursday as he promoted Washington’s return to a “commonsense policy” while the Trump Administration worked to increase oil and gas exports to Europe and other allied countries. Wright spoke with reporters in Brussels after he met the European Union energy commissioner Dan Jorgensen. U.S.
US Looks to Expand Energy Ties with Greece
The United States wants to expand its energy ties with Greece, U.S. Interior Secretary Doug Burgum said during a visit to Athens on Thursday, as the Trump administration works to further reduce Russia's oil and gas supplies to Europe.Burgum has been in Europe this week aiming to seal energy supply deals, which the U.S.
German spot prices are affected by the increase in wind power supply
The German spot electricity contract on Friday dropped sharply Thursday. Strong gains in wind energy output are expected to continue until next Monday. By 0802 GMT, the German baseload contract for day-ahead was down by 20.5% to 60 euros ($70.14). The French equivalent contract increased 52.4%, to 16 euros/MWh.
Santos, Australia's gas supplier, signs a deal with Orica to supply Narrabri to Orica
Santos, Australia's second largest gas producer, announced on Thursday that it had signed an agreement to discuss a possible domestic gas supply contract from its Narrabri Gas Project located in New South Wales. Santos will supply Orica with up to 15 petajoules per year and for ten years. Kevin Gallagher, Santos managing director and chief executive officer…
German spot price Monday is impacted by higher solar supply
On Monday, it is expected that the increased solar power production in Germany will offset the decrease in wind power and lower baseload electricity prices. LSEG data shows that the German and French baseload power contracts TRDEBD3,TRFRBD3 had not been traded by 0737 GMT Friday. LSEG data show that the day-ahead…
Spot prices are depressed by the sharp rise in wind energy supply
The European spot electricity prices fell on Tuesday, as the strong growth in German wind energy supply combined with the expected increase in solar power availability outweighed any slight rise in demand. LSEG data revealed that the German contract for day-ahead electricity fell by 42%, to 66.25 Euros ($77.56), per megawatt hour, at 0940 GMT.
The impact of rising renewable supply on spot prices
On Monday, the price of baseload electricity is expected to fall in Germany due to an increase in wind and solar energy generation. LSEG data shows that the German and French Monday basis power contracts were not traded by 1021 GMT Friday. LSEG data show that the day-ahead contracts were closed at 94.80 euro/MWh on Thursday and 32.25 euro/MWh on Friday.
Spot contracts increase on declining German wind supply
The European baseload day-ahead power prices increased compared to the previous Monday, as Germany's renewable energy supply is expected fall while demand is predicted to rise throughout the region. LSEG data shows that the French baseload electricity contract for Tuesday is 76.50 Euros ($89.55) a megawatt hour. The German equivalent contract has a bid price of 97 Euros/MWh.
German solar industry warns of ending subsidies after Minister proposes reductions
The German solar industry warned against the proposed end of subsidies for rooftop photovoltaics systems. They argued that withdrawing support from small installations could jeopardize the country's climate targets. Feed-in subsidies have been in place for 25 years to help expand the solar energy sector. They guarantee…
Heatwave expected to increase French demand
The heatwave expected in France will have a positive effect on electricity consumption, but it could also hurt nuclear power production due to high river temperatures that hinder cooling at nuclear reactors. LSEG data shows that the German and French Monday basis power contracts were not traded by 846 GMT. Baseload…
Demand is expected to drop on Monday as German wind power surges
As the holiday season in August begins, regional power demand will drop. Meanwhile, German wind energy is expected nearly double. LSEG data shows that the German and French Monday basis power contracts were not traded by 1001 GMT. On Thursday, the baseload prices were 99 euros/MWh for Friday and 63.50 euro/MWh on Friday.
Russian Urals Oil Prices For Indian Port Delivery Firm
Prices for Russia's flagship Urals crude oil for delivery to Indian ports in late August/early September firmed further, while discounts to Brent were the narrowest since 2022 amid firm demand in India and Turkey and low supply of the grade, three sources said.Spot discounts for Urals crude narrowed to between $1.50 and $1.60 per barrel to dated Brent on a delivery ex-ship (DES) basis on
Trump cuts subsidies for US clean energy, bringing an end to the boom.
Bila Solar, a Singapore-based manufacturer of solar panels, has suspended plans to double the capacity of its new Indianapolis factory. Heliene, a Canadian competitor, is reviewing its plans to build a solar-cell facility in Minnesota. NorSun, a Norwegian manufacturer of solar wafers, is evaluating the feasibility of a planned facility in Tulsa.
Low wind and hot weather will increase spot prices
German and French power contract prices for the next week will rise due to low wind output, which is limiting supply. Hot weather also increases demand. However, more forward-looking contracts were at a lower price on Friday morning in line with gas market. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 0926 GMT.
Report: Global CO2 emissions in energy reached record levels last year
The Energy Institute's Annual Statistical Review of World Energy showed that global carbon dioxide emissions in the energy sector reached record levels for the fourth consecutive year last year, as fossil fuel consumption continued to rise even as renewable energy also hit record highs. The figures in the report…
Prices of prompts spike as demand increases in hot weather
The European wholesale electricity prices rose sharply Tuesday as hotter weather is expected to increase demand for air conditioners, while German wind energy output dropped sharply. LSEG analyst Riccardo Paraviero highlighted the impact of a lower German wind energy supply at night. He said that this would lead to an increase in the use of gas-fired electricity.
Wind supply surges to surpass demand
Early on Friday morning, spot electricity contracts for German and French power were not yet being traded. However, a significant increase in German wind energy supply is expected to eliminate any price pressure caused by rising German demand. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 0948 GMT.
Saudi Energy Minister on Iranian oil loss: We only react to reality
Saudi Energy Minister Prince Abdulaziz bin Salman said that Saudi Arabia will only "react to reality" when asked on Thursday if it and Russia would replace any possible loss of Iranian crude oil. Speaking at an economic conference in St Petersburg the prince added that OPEC+ was a reliable organization that was attentive when circumstances prevailed.