Wind Power Drop Boosts German Spot

Tuesday, March 11, 2014

Reuters- An expected fall in Germany's wind power supply lifted spot power contracts slightly on Tuesday while French prompt prices were little changed on stable consumption expectations.

"There is some uncertainty about the return of the southern German Gundremmingen C reactor to the grid overnight," one trader said.

"Otherwise, the unusual sun intensity and high temperatures in this early spring phase have been priced in, which means good supply and little demand," he added.

The German baseload power contract for Wednesday delivery was 75 cents up at 35.25 euros ($49.0) a megawatt hour in the over-the-counter (OTC) market.

The equivalent French day-ahead contract was 25 cents lower at 35.25 euros per MWh.

Germany's midday supply of solar power has exceeded 20 gigawatts (GW) over the last few days for certain hours in the middle of the day.

Twenty-four-hour solar supply on Wednesday was forecast at 6 GW, double that on Monday, Thomson Reuters Point Carbon data showed.

The calm outlook cut the anticipated German wind power output on Wednesday to 1.2 GW from 2.8 GW on Tuesday.

French power consumption was seen staying around an average daily 57 GW all week, down from levels around 65 GW last week, as the warmer weather spell has curbed electric heating demand.

Twenty-four-hour temperatures in Germany this week are expected to average around 8-9 degrees Celsius versus forecasts for 6.6 degrees on Friday. France will see levels around 11 degrees Celsius this week versus a 9.7 degrees forecast last Friday.

In thermal plant supply, the French nuclear sector is tight and Germany's expects the return of the Gundremmingen C reactor to the grid on Tuesday at 2300 local time (CET).

Power curve prices fell along with weaker prices of gas, coal and carbon despite rising tension stemming from Ukraine and Russia's stand-off over control of Crimea, traders said.

The German benchmark price for the year ahead, Cal '15 baseload, was 30 cents down at 35.90 euros per MWh.

The equivalent French position was 25 cents down at 42.75 euros per MWh.

A Brussels summit next week is to call for greater efforts to cut the EU's reliance on Russia in the gas sector, underlining the concern about strained relations.

But Russia's Gazprom said it will press ahead with its South Stream pipeline to bring more gas to Europe in a route bypassing Ukraine, after the EU said it has suspended discussions regarding required approvals for the project.

($1 = 0.7205 euros)

(Reporting by Vera Eckert; editing by Jason Neely)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

US Navy Tests Latest Aegis Weapon System

The U.S. Navy conducted a series of cooperative air defense test exercises with the Spanish navy that culminated in live missile firing events using the latest Aegis Weapon System baseline July 20-21.

Antwerp Port CEO Scoops Baron Title

After 25 years as CEO of Antwerp Port Authority, Eddy Bruyninckx has been raised to the nobility by H.M. the king of Belgium with the rank of baron. In Belgium

SENER Presents Two FORAN Papers at the Morintekh

In June, the SENER engineering and technology group participated in the 17th Morintekh – Praktik 2016 Scientific Conference, in the city of St. Petersburg, Russia.

Finance

Asia-N.Europe Box Rates Fall 8.1 pct

Freight rates for transporting containers from ports in Asia to Northern Europe fell 8.1 percent to $713 per 20-foot container (TEU) in the week ended on Friday,

Unipec: U.S. ANS Destined for Sinopec

Arbitrage opens after ANS discount widen on ample supplies. Unipec, the trading arm of top Asian refiner Sinopec, has bought two U.S. crude cargoes, including

G6 Updates Asia-North America West Coast Service

Two services will be merged into one until further notice / Reason is change in market demand / All other services remain unchanged. Members of the G6 Alliance

Environmental

Kerry to Press ASEAN meeting for talks on SCS Disputes

U.S. Secretary of State John Kerry will urge Southeast Asian nations in meetings in Laos next week to find diplomatic ways to launch talks with China on easing

Pathogenic bacteria hitchhiking to North and Baltic Seas?

For the first time, AWI scientists have found evidence of living, potentially pathogenic vibrions on microplastic particles. With increasing water temperatures

Team Britannia, GAC Inks Partnership Deal

As Team Britannia prepares for its bid to break the round-the-world powerboat record later this year, GAC has been named their official shipping and logistics partner.

Energy

Ithaca’s FPF-1 platform to be moved to Stella field

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland.

Libya's PFG to Lift Terminal Blockades

Petroleum Facilities Guard has blocked terminals for months. Ras Lanuf, Es Sider terminals damaged by fighting. Libya's Petroleum Facilities Guard (PFG) will

Unipec: U.S. ANS Destined for Sinopec

Arbitrage opens after ANS discount widen on ample supplies. Unipec, the trading arm of top Asian refiner Sinopec, has bought two U.S. crude cargoes, including

News

Kerry to Press ASEAN meeting for talks on SCS Disputes

U.S. Secretary of State John Kerry will urge Southeast Asian nations in meetings in Laos next week to find diplomatic ways to launch talks with China on easing

US Navy Tests Latest Aegis Weapon System

The U.S. Navy conducted a series of cooperative air defense test exercises with the Spanish navy that culminated in live missile firing events using the latest Aegis Weapon System baseline July 20-21.

Pathogenic bacteria hitchhiking to North and Baltic Seas?

For the first time, AWI scientists have found evidence of living, potentially pathogenic vibrions on microplastic particles. With increasing water temperatures

Wind Power

Boskalis Awarded Aberdeen Offshore Wind Farm Contract

Royal Boskalis Westminster N.V. (Boskalis) has been awarded the Offshore Balance of Plant contract by Vattenfall for the construction of Aberdeen Offshore Wind Farm,

DNV GL Seeks to Standardize Floating Turbines

DNV GL launched a new joint industry project (JIP) together with thirteen global partners to mutually develop a Recommended Practice for the coupled analysis of floating offshore wind turbines.

Seacat Services Sends Freedom to Race Bank

Seacat Freedom, the latest addition to Seacat Services’ 12-strong fleet, has been dispatched to DONG Energy’s Race Bank offshore wind project following the boat’s

Offshore Energy

Ithaca’s FPF-1 platform to be moved to Stella field

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland.

Boskalis Awarded Aberdeen Offshore Wind Farm Contract

Royal Boskalis Westminster N.V. (Boskalis) has been awarded the Offshore Balance of Plant contract by Vattenfall for the construction of Aberdeen Offshore Wind Farm,

Drydocks World Conforms to FPC under EU Regulation

Drydocks World, the international service provider to the shipping, offshore, oil, gas and energy sectors has successfully been certified to European Standards EN 1090 – 1 and EN 1090-2.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1274 sec (8 req/sec)