European Spot Slips, Wind Output Cancels Strong Demand
Wind power output reaches 6.1 GW in Germany and Austria. European spot power prices for day-ahead delivery fell on Wednesday as higher wind power output was seen cancelling out increased electricity demand in Germany and Austria. Wind power supply is expected to almost double day-on-day by 6.1 gigawatts (GW) to 14 GW on Thursday in Germany and Austria, according to data by Thomson Reuters Point Carbon.
Norway Still W.Europe's Top Gas Supplier, Russia Second
Norway remained Western Europe's top gas supplier in 2015, but Russia narrowed the gap from the previous year, preliminary data showed on Monday. Russia is the top supplier for the whole European Union - supplying around a third of its gas - when countries in Eastern Europe are included. Norwegian pipeline gas exports to Europe surged to a record 108.6 billion cubic metres (bcm) in 2015…
UK Gas Prices Jump on Cold Forecast
British wholesale gas prices snapped a months-long bearish spell on Tuesday with week-ahead prices jumping 13 percent on forecasts for colder temperatures that should bolster demand for the heating fuel. The most traded gas contracts rose by between seven and 13 percent from pre-Christmas holiday levels despite a current glut of gas and low demand. Day-ahead gas for Wednesday delivery was up 7.26 percent or 2.26 pence to 33.40 pence per therm at 1249 GMT…
Strong Wind Push Czech and Slovak Prompt Lower
Czech and Slovak day-ahead power fell on Friday due to forecasts for strong wind generation at the weekend which is expected to pressure prices, traders said. Czech and Slovak electricity for Saturday dipped 23 percent to 21.77 euros ($23.77) per megawatt hour on regional exchanges as data from Thomson Reuters Point Carbon showed forecasts for wind generation in Germany rising about 5 gigawatts (GW), to 22.4 GW for Saturday and peaking above 23 GW on Sunday.
Poland's Anti-climate Rhetoric Seen as Hot Air
Poland's bid to block global efforts to slow climate change is likely to struggle to gain traction as it risks alienating European partners and as top emitters China and the United States dominate the international debate. Ahead of U.N. talks in Paris on a new climate pact, Poland's president vetoed an amendment to the Kyoto protocol on greenhouse gas emissions, saying Warsaw needed more time to assess the economic impact…
UK Gas: Oversupply, Weak Crude Pricing Drags
Within-day gas drops 1.68 percent; forward gas contracts weighed down by weak crude. British gas prices fell on Monday due to an oversupplied network on rising domestic and Norwegian deliveries, while weak crude oil prices dragged forward contracts lower. "Weaker oil prices and a long (gas supply) system are pushing down prices and Gazprom's plan to offer new gas for winter certainly isn't helping," a trader at a major European utility said.
EU Politicians Back Carbon Market 2019 Reform Start
The European Parliament on Wednesday approved a proposal to begin reform of the world's biggest carbon market in 2019, clearing the last major hurdle before the plan can become law. The aim is make the EU Emissions Trading System (ETS) strong enough to spur investment in lower-carbon energy and precedes U.N. talks in Paris at the end of the year to seek a deal to curb global warming.
Dutch Ordered to Quicken Greenhouse Gas Cuts
Emission cut should be at least 25 pct on 1990 levels; could pave the way for similar lawsuits. A district court ordered the Dutch government on Wednesday to cut greenhouse gas emissions faster than currently planned in a rare use of the legal system to curb global warming. A judge in The Hague said the state must "ensure that the Dutch emissions in the year 2020 will be at…
UK GAS-Prices Up, Output Cuts Hit Dutch Imports
Gas network undersupplied by 16.6 mcm/day; potential new Groningen cuts reduce Dutch imports. British spot gas prices rose for a second day on Tuesday as Norwegian and Dutch imports declined, while potentially deeper production cuts at Europe's biggest gas field, Groningen, tightened supply outlooks. Prices for within-day delivery jumped 0.85 pence per therm to 44.25 p/therm by 0855 GMT, compared with their last settlement.
Greece, EU Strugglers Among Carbon Reform Winners
Percentage gains more significant than outright; governments, utilities to reap rewards. Europe's poorest nations, including heavily indebted Greece, emerge the main winners from a deal to reform the world's biggest carbon market that will raise billions for EU governments, data from Thomson Reuters Point Carbon shows. The European Union on Tuesday reached a preliminary accord to launch on Jan.
EU Carbon Talks Next Week Could Clinch Reform Deal
European Union talks next week could clinch a deal to shake up the world's biggest carbon market after a change of position by the Czech Republic removed a major obstacle to an early start for reforms. The EU Emissions Trading System (ETS) is meant to be central to efforts to cut carbon emissions, but a huge surplus of carbon allowances caused by recession means they are not worth enough to drive a switch from highly-polluting coal to greener fuels.
EU Sees Progress Towards UN Climate Deal
EU sees China, Canada, S.Arabia making climate plans by June; India, Brazil, Indonesia to miss EU's target deadline. The European Union expects that countries emitting more than half of world greenhouse gases will publish plans for fighting global warming by mid-year to help build a U.N. deal due in December, according to an EU document obtained by Reuters. The internal document…
W. Europe Could See Record Russian Gas Imports
Russian gas imports into Western Europe could rise to a record this summer as utilities increase purchases from Russia, taking advantage of lower prices for oil-indexed gas contracts, analysts said. Europe's biggest utilities have deferred taking delivery of Russian gas in the winter until the second quarter, when weaker oil prices worked through into gas contracts, making the supply cheaper.
Britain's Gas Storage Cuts Heighten Risks for Winter
Britain's available natural gas storage capacity will fall to its lowest level in almost a decade this summer, increasing the system's reliance on supply from the continent and the risk of price spikes next winter. Utility Centrica on Thursday idled nearly 30 percent of Britain's biggest gas storage site, Rough, for six months to test wells. The site accounts for around 72 percent of Britain's gas storage capacity…
Asia LNG Prices Lower on Piecemeal Demand
Asian spot liquefied natural gas prices slipped on Friday as disappointing demand weighed on the market, traders said. The price of spot LNG for May delivery eased to $7.50 per million British thermal units (mmBtu) from $7.70 last week. Thomson Reuters Point Carbon analysts forecast the LNG Asia spot price at between $7 and $9 per mmBtu for this summer. "Disappointing demand…
Bells Toll for Europe's Largest Gas Field
Dutch church bells that for centuries have tolled to warn of floods across the low-lying countryside are sounding the alarm for a new threat: earthquakes linked to Europe's largest natural gas field. "Money can buy a lot of things, but a building like this cannot be replaced," said Jur Bekooy, a civil engineer with the Groningen Old Churches Association, pointing to cracks in the ceiling and walls of the 13th-century Maria Church in the village of Westerwijtwerd.
EU Divided as Carbon Reform Vote Looms
Parliamentary committee last month failed to agree; further votes needed at plenary, member state level. BRUSSELS/LONDON, Feb 23 (Reuters) - Prospects for early reforms to prop up the EU's Emissions Trading System (ETS), the world's biggest carbon market, hang in the balance ahead of a closely watched vote on Tuesday with members of the European Parliament divided over how soon to act.
EU Haggles over Carbon Market Reform
A compromise date of the very end of 2018 for reform of the EU Emissions Trading System (ETS) has run into opposition from some legislators, EU sources said, ahead of a vote next week that will be closely watched by the world's biggest carbon market. Members of the European Parliament, trying to overcome their differences over a plan to reduce a glut of allowances that has depressed the prices of allowances (EUAs), vote on the proposal in a committee next Tuesday.
Norway to Match EU on Climate Goals, Easing Oil Industry Fears
Norway will match a European Union goal of cutting greenhouse gas emissions at least 40 percent below 1990 levels by 2030 under a government plan announced on Wednesday, easing oil industry fears of tougher unilateral curbs. Norway's target will be part of a U.N. deal, due to be agreed in December in Paris, to limit rising temperatures blamed by a U.N. panel of climate experts for stoking heat waves, desertification, floods and rising seas.
Wind Supply Gains on Day-Ahead Prices
Central and southeastern Europe day-ahead power fell on Tuesday due to a strong gain in wind supply in the region, and Hungarian and Romanian spot prices remained at a large regional premium due to reduced import capacity, traders said. On regional exchanges, electricity for Wednesday fell 16 percent to 28.80 euros ($33) per megawatt hour in the Czech Republic, declined 1 percent to 35.67 euros in Slovakia…
