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

Finance

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

Carnival Sails to Profit

The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That

Environmental

USCG Flush Ice down River Systems to Facilitate Shipping

The Coast Guard cutter fleet is flushing ice through the Great Lakes river systems to prevent ice jams and facilitate commercial shipping as the shipping season

Chile Desert Rains Sign of Climate Change

The heavy rainfall that battered Chile's usually arid north this week happened because of climate change, a senior meteorologist said, as the region gradually

Mexico Unveils National Strategy ahead of Paris Climate Talks

Mexico on Friday said it will cap its greenhouse gas emissions by 2026, becoming one of the first countries to formally submit its national climate plan the

Energy

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

Austal Graduates 48 4-Yr Apprentices

Austal USA combined two classes to graduate a total of 48 members of Austal’s cutting-edge four-year apprenticeship program yesterday at a formal ceremony held at the Arthur R.

Mexico Unveils National Strategy ahead of Paris Climate Talks

Mexico on Friday said it will cap its greenhouse gas emissions by 2026, becoming one of the first countries to formally submit its national climate plan the

Fuels & Lubes

EALs & Oil Spill Remediation

EALs & Oil Spill Remediation: The Effects of EALs on Oil Spill and Discharge Reporting and Remediation In the wake of increased environmental scrutiny and potentially expanding liability issues,

Big Spending on Liquefaction Terminals

Capital expenditure (Capex) on global liquefied natural gas (LNG) facilities is expected to total $259 billion over the forecast period 2015-2019, according to

Brent Oil Rises as Euro Gains Against Dollar

Brent oil prices rose on Wednesday as the euro strengthened against the dollar following a boost in business morale in the euro zone's top two economies. The euro was up 0.

News

Is China Building a Naval Base in Africa?

Recently, The Namibian reported the existence of a "confidential letter from Namibia's ambassador to China, Ringo Abed, to Namibia's foreign minister stating that

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

Government Update

Mexico Unveils National Strategy ahead of Paris Climate Talks

Mexico on Friday said it will cap its greenhouse gas emissions by 2026, becoming one of the first countries to formally submit its national climate plan the

Mediterranean Rescue Operations Strain Shipping

The Wall Street Journal ran a story yesterday describing how the increasing number of seaborne migrants making the journey from Africa to Europe has not only

Port of Aden Under Threat with Enemy at the Gates

As Saudi Arabia and its Arab allies stage air strikes against Shi'ite Muslim militiamen threatening to topple Yemeni President Abd-Rabbu Mansour Hadi, the southern

Wind Power

Lack of Ship Definition is a Threat to Investors

AKD says the lack of an unambiguous term to describe a ‘ship’ in several jurisdictions represents a potential threat to asset security for financiers, particularly

SAL Heavy Lift Performs Offshore Windfarm Work

MV Lone proves as project platform for Wikinger wind farm   SAL Heavy Lift informs it has completed the second phase of the Wikinger Pile Testing Campaign with DP II Class vessel MV Lone.

BOEM Issues Offshore Wind Energy Research Lease

BOEM issues first wind energy research lease in Federal offshore waters   The U.S. Bureau of Ocean Energy Management (BOEM) has executed a wind energy research

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1721 sec (6 req/sec)