The price of gas in Europe is rising due to forecasts for cooler temperatures and Norwegian maintenance
Dutch and British gas rates rose on Tuesday, as forecasts called for cooler temperatures over the weekend. They also cited maintenance scheduled at certain Norwegian infrastructure this week. LSEG data shows that the Dutch front-month contract increased by 0.34 euros to 40.69 Euro per megawatt hour or 12.88/mmBtu at 0818 GMT.
EUROPE GAS - Prices fall on mild temperatures and energy attack pause
The Dutch and British gas price fell on Wednesday morning, as the mild temperatures reduced gas demand. Meanwhile, the U.S. made deals with Russia and Ukraine to stop attacks against energy targets and at sea. LSEG data shows that the Dutch front-month contract fell by 0.15 euros to 40.97 euros per Megawatt Hour (MWh)…
The price of gas in Europe is falling amid mild temperatures and ceasefire talks with Ukraine
Dutch and British wholesale prices of gas fell on Monday morning, as temperatures remained mild. Meanwhile, U.S. officials and Russian officials were in Saudi Arabia for talks to discuss possible ceasefires in Ukraine. LSEG data shows that the Dutch front-month contract fell…
Ofgem: UK power group Drax does not breach sustainability obligations
LONDON, 12 March - British energy regulator Ofgem announced on Wednesday that its review of audit reports prepared by KPMG had found no evidence of Drax's breach of sustainability obligations. Renewable electricity generators can sell certificates of renewable obligation (RO)…
Prices for gas in Europe fall as storage targets are extended and temperatures rise
The Dutch wholesale gas price fell on Wednesday afternnon amid warmer temperatures. In addition, the European Commission announced a two-year extension to winter storage targets. However, it signaled flexibility regarding interim targets. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was down 2…
UK Invests $71M in Scottish Port Expansion for Floating Wind
Britain will invest 55.7 million pounds ($71.45 million) in the Port of Cromarty Firth in Scotland to expand the facility to become a hub for floating offshore wind, the government said on Wednesday.Britain has a target to largely decarbonize its electricity sector by 2030 which will require a huge ramp up in renewable power like offshore
EUROPE GAS-Prices rise amid Ukraine concerns, strong demand
Dutch and British wholesale prices for gas rose Monday morning, as market demand and concerns about a possible peace agreement with Ukraine supported the market. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was up 2,19 euros, or 14,19/mmBtu at 46,50 euros per Megawatt Hour (MWh), by 0914 GMT.
EUROPE GAS - Prices rebound on technical purchases and strong demand
The Dutch and British wholesale gas market rebounded Thursday on technical buying and strong demand. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was up by 2.00 euros, at 43.40 Euros per megawatt hour, or $13.33 / mmBtu at 0909 GMT. The front-month contracts hit a low of 40.85 euro/MWh…
As market monitors Ukraine peace negotiations, the price of gas in Europe is at a two-month low.
Dutch wholesale gas prices dropped significantly on Tuesday amid a large sell-off, as the market waited for the outcome of the U.S.-led negotiations to end the conflict in Ukraine. The benchmark front-month TTF contract in the Netherlands closed at 43.99 euros, or $13.53 per megawatt hour, down almost 5% at 2.31 euro.
The Dutch prices of gas are rising on the back of cooler temperatures forecasts
Dutch wholesale gas prices increased on Tuesday morning, as cooler temperatures and a lower renewable energy output forecasts boosted demand. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was up 0.45 euros at 46.75 Euros per Megawatt Hour (MWh), which is $14.35 /mmBtu by 0906 GMT.
Prices near four-week-low on US-Russian talks and weaker demand
Dutch and British wholesale prices of gas held near four-week lows, as the market awaited the outcome of talks between the U.S.A. and Russia on how to end conflict in Ukraine. Strong renewables output also curbed demand. According to LSEG, the benchmark front-month contract…
Centrica: Britain's gas reserves are "concerningly small"
Centrica, the operator of Britain's largest storage facility, stated on Friday that Britain's gas levels were "concerningly" low, with less than one week's worth of gas left to be consumed following a recent cold snap. Britain relies heavily on gas to heat its homes and generate electricity.
Spot prices drop on strong renewable production
German and French power prices dropped on Monday morning, as a result of the strong production from wind and solar farms in the region. At 1030 GMT, the German baseload power day-ahead was trading at 58 Euros/MWh. LSEG data shows that this was a drop of more than 50% compared to the last traded level, 119.25 euro/MWh, on December 27.
Document shows that the EU Commission has set a 50% storage target by February 2025.
The European Commission announced on Friday that Europe had set a target to have its gas storage 50% full by February 1, 2025. This is to ensure supply security amid cold weather forecasts and fears of Russian gas disruption. It is important to ensure that the gas supplies of the EU do not fall too low during the winter months…
German spot prices increase as wind power drops
On Monday, the German spot electricity price increased as it was anticipated that consumption would increase and wind power would decline. LSEG data shows that the German baseload electricity for Tuesday reached 100.00 euros per Megawatt Hour (MWh) at 1027 GMT. This is up 35.00 Euros from Friday's last day-ahead trading price.
Drax will invest up to $12 billion in US biofuel power plants
Drax, a British power generator, said that it could invest up $12.5 billion in developing biomass plants with Carbon Capture and Storage (BECCS), in the United States within the next decade.Drax, the company that generates around 6 percent of Britain's electric power, has said it will remain committed to the UK…
VPI, backed by Vitol, invests up to 450 million euros in German batteries
VPI chief executive said that the company, which is backed by Vitol, the largest energy trader in the world, would invest up to 450 millions euros in Germany's battery projects over the next 3 to 5 years. Germany is planning to expand its renewable energy capacity rapidly to 80% by 2030, from 40% currently.
Orsted and Iberdrola among the winners in record British renewable energy auction
Orsted and Iberdrola are among the winners in a British renewable energy auction that supported a record-breaking number of projects. The government announced this on Tuesday. The Labour government that came to power in July plans to decarbonise electricity by 2030. This will require an increase in renewable energy capacity…
Centrica Pauses Spirit Energy Sale, Scraps Dividend. Shares Hit Record Low
Britain's largest energy supplier Centrica canceled its 2019 dividend and cut costs in anticipation of an increase in nonpayments by customers and a drop in demand due to the COVID-19 outbreak, sending its shares to record lows.The government has ordered sweeping measures to slow the spread of the new coronavirus…
Britain's Zero-carbon Power Outstrips Fossil Fuels in 2019
Britain, the birthplace of coal power, produced more electricity from zero-carbon sources such as wind, solar and nuclear than from fossil fuel plants for the first time in 2019, National Grid said on Wednesday.Having built the world's first coal-fired power plant in the 1880s…
