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

Finance

Fifth Jackup Contract for Keppel from Gulf Drilling

Keppel FELS Limited, a wholly owned subsidiary of Keppel Offshore & Marine, has secured a contract from Gulf Drilling International Ltd. of Qatar to build a

Scorpio Tankers Receive 7 More Newbuildings

Scorpio Tankers Inc. say it has recently taken delivery of seven newbuilding vessels as follows: STI Madison and STI Park, LR2 product tankers, were delivered

Greek Owners CPP Charter Out Three Tankships

Capital Product Partners L.P. (CPP) an international diversified shipping company, says it has secured time charter employment for the M/T ‘Avax’, M/T ‘Agisilaos’ and M/T ‘Alkiviadis’.

Fuels & Lubes

Ship Safety: IMO Committee Agree Draft IGF Code

IMO informs that the draft International Code of Safety for Ships using Gases or other Low flashpoint Fuels (IGF Code), along with proposed amendments to make the Code mandatory under SOLAS,

Upcoming Winter Tanker Market Same as Last Year?

Will the 2014/15 winter tanker market be a repeat of the previous one? Poten & Partners consider the question in their latest 'Poten Tanker Opinion'. As the

MN 100: Total Lubmarine

Le Diamant B – 16, rue de la République 92922 Paris-La-Défense Cedex, France E-mail: rm.total-lubmarine@total.com Web: www.lubmarine.com The Company: Total

News

Fifth Jackup Contract for Keppel from Gulf Drilling

Keppel FELS Limited, a wholly owned subsidiary of Keppel Offshore & Marine, has secured a contract from Gulf Drilling International Ltd. of Qatar to build a

Fugro Takes Delivery of 2nd Coastal Survey Vessel from Damen

Fugro yesterday took delivery of its second of the three Fugro Offshore Coastal Survey Vessels (FOCSV) being built by Damen. The Fugro Pioneer is a compact,

Aker Wayfarer Wins 5-Yr Contract from Petrobras

Aker Solutions' subsidiary Aker Oilfield Services (AKOFS) has won a contract worth USD 465 million over five years from Petrobras to provide subsea intervention

Entertainment

Holland America Line's New Ship is ms Koningsdam

Holland America Line revealed the name of its new 99,500-ton cruise ship slated for delivery in February 2016 will be ms Koningsdam. While the name pays homage

Newport International Boat Show Award Winners

Newport Exhibition Group, owners and producers of the Newport International Boat Show, announced today the results of this year’s Newport For New ProductsTM (NFNP) Awards.

SMM 2014 Witnesses Record Turnout

SMM was another full success. With more than 2,100 exhibitors from all around the world, including 150 first-timers, with 50,000 industry visitors and roughly 90,

Offshore Energy

Fifth Jackup Contract for Keppel from Gulf Drilling

Keppel FELS Limited, a wholly owned subsidiary of Keppel Offshore & Marine, has secured a contract from Gulf Drilling International Ltd. of Qatar to build a

Aker Wayfarer Wins 5-Yr Contract from Petrobras

Aker Solutions' subsidiary Aker Oilfield Services (AKOFS) has won a contract worth USD 465 million over five years from Petrobras to provide subsea intervention

Cat, Deltamarin Develop Modular FPSO Power Unit

Caterpillar Launches New Modular Solution Developed with Deltamarin for FPSO and Offshore Platform Main Power at 2014 Rio Oil & Gas Expo and Conference Caterpillar

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Ship Simulators Shipbuilding / Vessel Construction 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: 0.1199 sec (8 req/sec)