Europe Power Prices Lifted by Tight Supply

Posted by Michelle Howard
Friday, May 09, 2014

Forecasts for tight thermal capacity and rising demand next week boosted European spot power prices on Friday for Monday, the coming week and next month.

German and Austrian power plant capacity is likely to fall by 0.8 percent by May 16, data on the European Energy Exchange's (EEX) website showed.

German nuclear supply remains reduced at 8.8 gigawatts (GW) with the Grohnde and Gundremmingen B reactors offline for maintenance, and output also reduced at the Isar 2 reactor.

The German baseload power contract for Monday delivery rose 75 cents over Friday to 29.35 euros ($40.7) a megawatt hour.

The contract for weekly baseload delivery in Germany was at 31.75 euros and that for June at 29.50 euros.

French baseload power for Monday gained 4.75 euros from the Friday level to 28.75 euros/MWh.

German consumption on Monday will likely be stable at 61 GW and consumption in France is due to rise by 5 GW to 49 GW on Monday, Thomson Reuters Point Carbon data showed.

This reflected the return of French industry after a holiday on Thursday and greater exposure to cooler weather in the region.

Daytime temperatures in Germany will fall to between 12 and 17 degrees Celsius by Monday from 13 to 20 degrees on Friday, met office DWD predicted.

Wind power output in Germany on Monday will be high at 10 GW but still down 2 GW from Friday and compared with 16 GW on Sunday.

Forward power prices trended firmer, reflecting higher gas, carbon and oil, and stable coal prices.

The German Cal '15 baseload power contract for annual delivery in 2015 was 10 cents up at 34.50 euros. The equivalent French Cal' 15 contract was indicated unchanged at 41.90 euros.

Germany's output of renewable power in the first quarter of 2014 rose by 12.6 percent from a year earlier and the share of renewables in overall national consumption rose by 4 percentage points to 27 percent, industry group BDEW said.

In company news, EnBW, the third-biggest utility, posted a 15 percent lower core profit in the first quarter, weighed down by the mild winter, low wholesale prices and the rise in renewable capacity that has hit its thermal power plants.

($1 = 0.7214 Euros)

(Reporting by Vera Eckert; Editing by Susan Thomas)

Maritime Today


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

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

Finance

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia Elétrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

DP World Bolsters Investment in India

DP World Pvt. Ltd, the world’s fourth biggest container port operator majority owned by the Dubai government, has plans to invest over $1 billion in India for augmenting its port-related operations.

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Fuels & Lubes

N.America's First LNG Marine Fuel Terminal Opens

Harvey Gulf announced the opening of the first marine LNG fueling terminal in North America. Less than a year after the delivery of the M/V Harvey Energy, America’s first LNG-powered vessel,

IBIA Celebrates 23th Annual Dinner

Association appoints new board members and sets priorities for the future   The International Bunker Industry Association (IBIA) has appointed three new members

The Next Generation of Hull Performance Management

Hull performance monitoring solutions can offer significant fuel savings potential, a fact that is prompting growing interest from the maritime industry. To spur

News

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia Elétrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

N.E. Fishermen Warned of Extreme Cold, Wind Chills

The Coast Guard is urging the Massachusetts and Rhode Island fishing fleet to take caution heading into the weekend when life threatening temperatures and wind chills are forecasted.

Hapag-Lloyd Enhances Conosur Service

Hapag-Lloyd has informed about its service enhancements on the Conosur Service (South America West Coast to South America East Coast). This is being upgraded by

Wind Power

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia Elétrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

Gamesa, Siemens Negotiating Wind Merger Terms

German engineering group Siemens and Spanish renewable energy group Gamesa are in final negotiations on a deal to merge their wind power assets, two sources familiar

SevenCs Supports MariGreen Project

SevenCs is part of the EU INTERREG V A cross-border project “MariGreen” to support the maritime industry in the transition towards more efficient, greener and more sustainable shipping.

Entertainment

Funding Secured for Project to Deepen the Delaware River

Dennis Rochford, president of the Maritime Exchange for the Delaware River and Bay, announced that President Obama’s FY17 proposed budget includes $33 million for the Delaware River Deepening Project.

World's Richest Travellers Prefer Panama

According to AFP Relaxnews, Panama saw the most growth in interest among the world’s richest jetsetters for travel this winter and spring.   Panama saw the most

Maritime India Summit Road Show Kick Starts

Kolkata, 3rd Feb, 2016: Industry leaders, corporate heads, policy makers and senior executives took part in the very first road show which served as a run up to the Maritime India Summit’16.

Offshore Energy

Premier Oil and Rockhopper Abandon Ocean Rig Contract

Two of the major British players in Falkland Islands offshore oil development, Premier Oil and Rockhopper Exploration, cancelled a joint venture contract with Ocean Rig UDW.

US Oil Drillers Cut Rigs to Least in 6 Years

U.S. energy firms this week cut oil rigs for an eighth week in a row to the lowest levels since January 2010, data showed on Friday, as energy firms continue to

Eni, Exxon, Statoil Win Irish Offshore O&G Licences

The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni, Exxon and Statoil , allowing them to explore for hydrocarbons off the coast of Ireland.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Repair Winch
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: 0.0963 sec (10 req/sec)