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 Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Kleven Shipbuilding Wins IES Pioneer Contract

Norway’s Kleven announced it has signed a shipbuilding contract with Malaysian based joint venture company IES Pioneer Ltd. The vessel is of Norwegian design

Sunken WW II Ship Oil Leak Plugged

Atlantic Coast Marine Group, Inc. successfully responds to World War II era motor tanker leaking massive cargo of oil into the Atlantic Ocean's waters. Beaufort,

New ICTF Boosts Crowley’s Efficiency

The opening of Florida East Coast Railway’s (FEC) new, state-of-the-art intermodal container transfer facility (ICTF) adjacent to Crowley Maritime Corporation’s Port Everglades, Fla.

Finance

Aker Philadelphia Shipyard ASA : Purchase of own shares

Aker Philadelphia Shipyard ASA (the "Company") (Oslo: AKPS) has on 21 July 2014 purchased 2,155 shares in the Company on Oslo Axess at an average price of NOK 160.

Suicide Attack Escalates Libya Violence, Oil Output Slips

Crude output slips for first time since port deal; fresh clashes in Tripoli and Benghazi. Brega oil port seen open in few days. A twin suicide bombing at a Libyan

Pier Damaged at Port Canaveral

Undergoing Repairs While Coast Guard Investigates   The U.S. Coast Guard is investigating a weekend incident that caused pier damage and scattered concrete debris in the harbor on Sunday.

Environmental

BHP Billiton Pledges A$6 mi to Bush Blitz II Project

Alongside partners the Australian Government and Earthwatch, BHP Billiton Sustainable Communities today announced a A$6 million contribution to the second stage

Sunken WW II Ship Oil Leak Plugged

Atlantic Coast Marine Group, Inc. successfully responds to World War II era motor tanker leaking massive cargo of oil into the Atlantic Ocean's waters. Beaufort,

Maine Port City Bans Oil Loading

City councilors in South Portland, Maine, voted late Monday night to ban the loading of crude oil onto tankers along its waterfront, throwing up yet another roadblock

Energy

Ocean Mineral Singapore Set for Seabed Exploration

Ocean Mineral Singapore Pte. Ltd. (OMS) has received approval from the International Seabed Authority (ISA) on its application for its first seabed exploration licence.

Suicide Attack Escalates Libya Violence, Oil Output Slips

Crude output slips for first time since port deal; fresh clashes in Tripoli and Benghazi. Brega oil port seen open in few days. A twin suicide bombing at a Libyan

Maine Port City Bans Oil Loading

City councilors in South Portland, Maine, voted late Monday night to ban the loading of crude oil onto tankers along its waterfront, throwing up yet another roadblock

News

Heavy Lift & Project Vessels Face Berthing Delays at Indian Ports

Heavy Lift & Project vessels calling at Indian ports are experiencing congestion, which according to the trade is an artifically created situation. They point out that unlike other vessels,

Aker Philadelphia Shipyard ASA : Purchase of own shares

Aker Philadelphia Shipyard ASA (the "Company") (Oslo: AKPS) has on 21 July 2014 purchased 2,155 shares in the Company on Oslo Axess at an average price of NOK 160.

BHP Billiton Pledges A$6 mi to Bush Blitz II Project

Alongside partners the Australian Government and Earthwatch, BHP Billiton Sustainable Communities today announced a A$6 million contribution to the second stage

Wind Power

Harnessing the Wind for Auxiliary Propulsion

Finnish marine engineering company Norsepower Oy Ltd. announced that it will bring to the commercial maritime market an auxiliary wind propulsion solution aimed

NJ Congressmen Supports Offshore Wind Proposal

Congressman Frank Pallone has issued the following statement in response to the Department of the Interior’s announcement of the proposed lease sale for nearly 344,

Imtech Equips HelWin bèta with HVAC System

On June 14, the HelWin bèta platform left on a barge from the Heerema Fabrication Group's (HFG) yard in Zwijndrecht for Schiedam to complete outstanding work. Last week,

Offshore Energy

DNV GL Publishes Regulatory Roadmap for Floaters in the US

DNV GL announced it has mapped out what is necessary to be in compliance with U.S. Coast Guard (USCG) requirements to operate FOIs, FSOs and FPSOs in U.S. waters.

NJ Congressmen Supports Offshore Wind Proposal

Congressman Frank Pallone has issued the following statement in response to the Department of the Interior’s announcement of the proposed lease sale for nearly 344,

Sembawang Shipyard to Convert 2 FPSOs for Kaombo Project, Angola

Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured a Floating Storage Production Offloading (FPSO) conversion contract worth about S$600 million from Saipem SA,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1261 sec (8 req/sec)