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 May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

WTO Launches Dedicated Website for new TFA Facility

The TFAF was created at the request of developing country and least-developed country (LDC) members to help ensure that they receive the assistance needed to

Aegean Marine Profit Beats Estimates

Greece-based Aegean Marine Petroleum Network Inc. (ANW) reported first-quarter earnings of $12.2 million or $0.25 per share compared with $5.1 million or $0.11 per share last year.

Shreyas Shipping Turns Around

Shreyas Shipping and Logistics swung to a net profit of Rs. 61.75 crore (about $9.6 million) in the fiscal year ended March 31, a big turnaround from its loss of Rs.

Energy

LNG Vessel with Wartsila Integrated Solutions Delivered to Evergas

The first in a series of 27,500 cbm 'Dragon' class vessels ordered by Evergas, a world renowned owner and operator of seaborne petrochemical and liquid gas transport vessels,

Executive Changes at Transocean

Transocean Ltd. today announced that, as mutually agreed with the company, Esa Ikaheimonen is stepping down as Executive Vice President and Chief Financial Officer effective immediately.

BMT, Endeavour Energy Win Africa’s LNG Import Terminal Contract

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, has been appointed Owners Engineer and lead design consultant by Endeavour Energy for the development

Fuels & Lubes

Shell Offers Smooth Transition to ECAs

Shipowners switching to low sulphur content fuels in line with their obligations in Emissions Control Areas (ECAs) have demanded confidence in the cylinder oils

New MD for Glander Int'l Bunkering (India)

Glander International Bunkering is proud to announce that Ajay Menon has been appointed as the Managing Director of Glander International Bunkering (India) Private Limited.

CAT’s New Dual Fuel Engine M 4G DF

At the beginning of 2015 the exhaust limit values for sulfur oxides (SOx) grew ever tighter in emission controlled areas. And with the start of 2016, nitrogen oxides

News

LNG Vessel with Wartsila Integrated Solutions Delivered to Evergas

The first in a series of 27,500 cbm 'Dragon' class vessels ordered by Evergas, a world renowned owner and operator of seaborne petrochemical and liquid gas transport vessels,

Executive Changes at Transocean

Transocean Ltd. today announced that, as mutually agreed with the company, Esa Ikaheimonen is stepping down as Executive Vice President and Chief Financial Officer effective immediately.

BMT, Endeavour Energy Win Africa’s LNG Import Terminal Contract

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, has been appointed Owners Engineer and lead design consultant by Endeavour Energy for the development

Entertainment

Cruise-Container Hybrid Ship Makes Debut

Aranui 5, a cruise ship / container ship hybrid, will make its maiden voyage from Tahiti to the Marquesas Islands in the South Pacific Ocean at the end of November 2015.

Maersk Line to Reduce CO2 Emission per Container by 60%

The world’s largest container shipping company Maersk Line has set itself a bold new target to cut CO2 emissions by 60% by 2020.   The company has stated that

DP World Extends Title Sponsorship Until 2020

Dubai is set to remain at the epicenter of golf on The European Tour for the foreseeable future after global port operator DP World announced today that it will

Offshore Energy

Fugro Extends Contract with McDermott

Fugro has been awarded a three-year extension to its existing contracts with McDermott Middle East, Inc. The contract covers the provision of survey, positioning,

First Damen Twin Axe for Offshore O&G

To develop its large fleet, Groen Offshore, Guard & Support has selected the first Damen Twin Axe Fast Crew Supplier 2610 to be customised with Offshore Oil & Gas standby capabilities.

Hoegh LNG Bags FSRU Deal in Chile

Oslo-based Höegh LNG said it has signed an Floating Storage and Regasification Unit (FSRU)contract with Chilean Octopus LNG for the Penco-Lirquén LNG import terminal to be located in Concepción Bay,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Ship Simulators
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: 0.1509 sec (7 req/sec)