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

Finance

MARAD: $5 Mln Available for Marine Highway Projects

The Maritime Administration (MARAD) has announced the availability of $5 million in Federal funding to expand marine highway service by creating new or expanding

Baltic Index Down on Lower Capesize, Panamax Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Friday, as demand for capesize and panamax vessels fell.

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.

Energy

Russia Diesel Exports from Primorsk to Rise in May

Russia is set to export 1.256 million tonnes of ultra-low sulphur diesel from the Baltic Sea port of Primorsk in May, slightly up from 1.209 million tonnes in April, trading sources said on Friday.

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.

Pressure Steady on LNG Shipping Rates -Drewry

LNG shipowners will have to wait until 2018 for earnings to improve, when the majority of new US plants are expected to come online, according to the latest edition

Fuels & Lubes

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.

Singapore Revokes Two Bunker Licenses

Singapore's Maritime and Port Authority (MPA) have revoked two bunker suppliers' license to operate in the world's top bunker port.    The two companies have,

Norwegian Escape Equipped with Alfa Laval Systems

Norwegian Escape, the first cruise ship in Norwegian Cruise Line’s new Breakway Plus Class, was delivered in October 2015. The 164,600 GT vessel, which boasts 19 decks and 4,

News

Mercury Marine Expands Manufacturing Capacity

Mercury Marine is adding a 53,000 square foot manufacturing capacity expansion to its global headquarters in Fond du Lac, Wisc. The expansion will consist of 45,

Conquest Installs 850t Crane on Allseas Solitaire

Conquest Offshore was contracted by Allseas to remove a 300-ton crane and transport and install a 850-ton Huisman crane on board of one of the largest pipe-lay vessels in the world, Allseas Solitaire.

MARAD: $5 Mln Available for Marine Highway Projects

The Maritime Administration (MARAD) has announced the availability of $5 million in Federal funding to expand marine highway service by creating new or expanding

Entertainment

Fincantieri Delivers Carnival Vista

Carnival Vista, the new flagship of the fleet of Carnival Cruise Line, brand of the Carnival Group, was delivered today at Fincantieri’s shipyard in Monfalcone.

Thome Ship Management Selects KVH Media

Under the agreement, seafarers will have ready access to a steady supply of the latest-release movies for fully licensed onboard viewing KVH Media Group, distributor

Keel Laid for Cruise ship Mein Schiff 6

The assembly of TUI Cruises ship Mein Schiff 6 at Meyer Turku shipyard started today 25.4.2016 with the laying of the first grandblock in the big building dock.

Offshore Energy

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Ulstein Verft's First Wind Service Vessel Launched

Shipbuilder Ulstein Verft has launched its first vessel within the renewable energy segment, and also the first with the newly-developed X-STERN hull line design.

Incat Crowther Supplies Crewboat Design, Build Kits

Incat Crowther has been awarded a contract with shipbuilder Astinave EP of Guayaquil, Ecuador for the supply of vessel design services and aluminum component kits for a pair of 22.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators 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: 0.1378 sec (7 req/sec)