Rising Wind Generation, Lower Demand

By Michelle Howard
Thursday, August 21, 2014

Forecasts for an increase in wind power output and lower demand sent central European day-ahead power prices lower on Thursday, traders said.

On regional exchanges, Czech and Slovak power for delivery on Friday fell 11.7 percent to 30.83 euros ($40.91) per megawatt-hour (MWh) while day-ahead power in Hungary declined 15.3 percent to 33.41 euros.

Data from Thomson Reuters Point Carbon showed forecasts for wind power generation in Germany increasing by 2.6 gigawatts (GW) to nearly 5.4 GW.

The expected drop in consumption will also offset a fall in solar power generation, which is forecast at 5.8 GW on Friday.

Further along the curve, Czech power for delivery next year gained 10 cents to 34.65 euros while the Hungarian front-year contract shed 5 cents to 43.55 in afternoon trade on the Prague-based Power Exchange Central Europe.

Around the region, the benchmark German Cal '15 gained 15 cents to 35.50 euros in afternoon trade on Germany's EEX exchange.

Poland's utilities will have over 4 GW and nearly 4.3 GW of power offline for planned maintenance on Friday and Saturday, respectively, according to PSE power grid operator data. Day-ahead on Poland's POLPX increased to 179.91 zlotys ($56.96) from 178.01 zlotys.

Brent crude oil fell towards $101 a barrel on Thursday, just above a 14-month low, on plentiful fuel supplies and as Chinese economic data pointed to slowing demand, although prices began recovering in early U.S. trading.

European Union carbon futures lost 15 cents to 6.29 euros a tonne in afternoon trading.

(1 US dollar = 0.7536 euro) (1 US dollar = 3.1586 Polish zloty)

(Reporting by Maja Zuvela; Editing by Michael Urquhart)

Maritime Today


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

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

Finance

Baltic Index Up for Eighth Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued its rise on Friday, for an eighth consecutive session,

Asia-N.Europe Box Rates up 77 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose 77.4 percent to $1,206 per 20-foot container (TEU) in the week ended on Friday,

Euronav Share Buyback

Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) today announces that the Company has purchased 192,415 of its own shares on Euronext Brussels for an aggregate price of EUR 1,

Environmental

Red Funnel Catamaran Powered by MTU Engines

The latest addition to the British Red Funnel ferry fleet, Red Jet 6, completed first sea trials in June 2016 and will go into service in July. The high-speed catamaran

Emission Changing the Smell of the Sea

Chemistry and biological science experts at the University of Hull, say increasing acidification of the world’s oceans has the potential to significantly disrupt the way marine life communicates,

Port Everglades, EPA to Study Air Emissions

Port Everglades has signed a partnership agreement with the U.S. Environmental Protection Agency (EPA) to study air emissions.   The EPA's Office of Transportation

Energy

US Oil Drillers Add Rigs for 4th Week in 5

U.S. drillers this week added oil rigs for a fourth week in five, according to a closely followed report Friday, in the best month of producers returning to the

First Alaskan North Slope Cude Export Planned for Nicaragua

Alaskan North Slope (ANS) crude will be shipped to Nicaragua for the first time in July, two trade sources said on Friday, underscoring a shift in oil flows to and from the U.

India's Iran Oil Imports Surge in June

India's Iran oil imports rose about 39 percent in June year on year, preliminary data obtained by Reuters shows.   In the first half of 2016 India's Iran oil

News

US Oil Drillers Add Rigs for 4th Week in 5

U.S. drillers this week added oil rigs for a fourth week in five, according to a closely followed report Friday, in the best month of producers returning to the

Vale Sells 3 Valemax Iron Ore Ships to ICBC

Brazil's Vale SA said it has sold three of its giant "Valemax" iron ore ships to a group led by Industrial and Commercial Bank of China, continuing efforts to unload

Fincantieri Launches Silver Muse

Silver Muse, the new ultra-luxury cruise ship which Fincantieri is building for the ship owner Silversea Cruises, was launched at Fincantieri’s shipyard in Genoa Sestri Ponente.

Government Update

Op/Ed: Supply Chain Hindered by Cumbersome Regulation

The Federal Maritime Commission (FMC), which has always been a valuable resource in supply chain management, announced the formation of a Supply Chain Innovations

Largest Cruise Vessel Calls at Lerwick Port

Yesterday (30 June) was a big day for GAC UK’s Shetlands office, as Offshore Manager Adrian Henry welcomed the P&O Cruises ship ‘Azura’ to the port of Lerwick,

India: Big Push on Coastal Shipping of Thermal Coal under Sagarmala

The State Government of Odisha will partner the Ministry of Shipping for taking ahead the ‘port-led development’ agenda under Sagarmala, the flagship program of the Ministry.

Wind Power

Boskalis Bags Aberdeen Offshore Windfarm Deal

Royal Boskalis Westminster N.V. (Boskalis) has been appointed the preferred Offshore Balance of Plant contractor by Vattenfall for the construction of Aberdeen Offshore Wind Farm,

India’s Potential in Offshore Wind Power

The Global Wind Energy Council (GWEC) launched a new report: “Supply Chain, Port Infrastructure and Logistics Study” for offshore wind development in the states of Gujarat and Tamil Nadu in India.

Charting the Shift of Oceanic Boundary Currents

Global warming results in fundamental changes to important ocean currents. As scientists from the Alfred-Wegener-Institute show in a new study, wind-driven subtropical

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics 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: 0.1083 sec (9 req/sec)