Spot Falls on Weak Summer Demand, More Wind Generation

Posted by Michelle Howard
Monday, July 07, 2014
  • Wind generation forecast to rise to 5.7 gigawatts
  • Cal '15 prices fall
  • Russian gas flows via Ukraine stable on Monday


Weaker demand during the summer holidays and forecasts for increasing wind generation in the region pushed Central European spot power prices lower on Monday, traders said.

On regional exchanges, electricity for Tuesday delivery fell 3 percent to 36.27 euros ($49.47) per megawatt hour in the Czech Republic and Slovakia and declined a little more than 3 percent to 44.39 euros in Hungary where planned outages and weaker Balkan demand have kept prices at a regional premium.

Data from Thomson Reuters Point Carbon showed forecasts for wind generation in Germany rising nearly 2 gigawatts to 5.7 GW for Tuesday with solar production at just under 4 GW.

Further along the curve, the Czech front month fell 35 cents to 30.70 euros and Hungarian electricity for August declined 25 cents to 45.60 euros.

On the Prague-based Power Exchange Central Europe dipped 10 cents to 33.65 euros and the Hungarian Cal '15 shed 15 cents to 43 euros.

Around the region, the benchmark German Cal '15 decreased 1 cent to 34.30 euros on Germany's EEX exchange in afternoon trade. Day-ahead on Poland's POLPX exchange fell to 190.25 zlotys ($62.45) from 229.59 zlotys.

Russia's Gazprom said on Monday Russian gas flows to Europe via Ukraine remained stable.

All construction timelines for the South Stream pipeline are on track and the European Union should restart talks about the project, Russian Foreign Minister Sergei Lavrov said on a visit to Bulgaria.

Brent crude oil steadied under $111 a barrel, just above a three-week low, as Libya geared up to resume oil exports from two ports closed for nearly a year.

European Union carbon futures fell 1.8 percent to 5.59 euros in afternoon trading.

($1 = 0.7331 Euros) ($1 = 3.0462 Polish Zlotys)

(Reporting by Michael Kahn; Editing by David Evans)

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

Finance

Top Ships Enters 3 New Charters

TOP Ships Inc., an international owner and operator of modern, fuel efficient "ECO" MR tanker vessels focusing on the transportation of petroleum products, announced

Egypt Buys 175,000mt of Russian Wheat

Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Wednesday it had bought 175,000 metric tons of Russian wheat for shipment Sept.

USACE Gets Bird’s-eye View of Houston Ship Channel Growth

The 53rd U.S. Army Chief of Engineers and Commanding General of the U.S. Army Corps of Engineers, Lt. Gen. Thomas P. Bostick, visited the Port of Houston Authority

Environmental

There’s Still Time for SHIPPINGInsight Award Entries

Entry submissions for the first SHIPPINGInsight Award are due Friday, Aug. 1, but organizers said they will continue to accept nominations through following week to provide some extra time.

MOL Ship Management Earns Energy/Enviromental Certifications

First company to receive ISO50001 certification from Nihon Kaiji Kyokai.   MOL Ship Management Co., Ltd. (MOLSHIP), a core ship management company in the corporate group headed by Mitsui O.

Pumps Reach Sinking Shrimper Just in Time

A commercial fishing vessel from Brownsville is slowly making its way back to port, thanks to some quick actions by its crew and Coast Guard units, informs the US Coastguard,

Energy

US Crude Oil Exports Hit 15-year High

U.S. crude oil exports reached 288,000 barrels per day (bpd) in May, the highest levels since April 1999, data from the U.S. Energy Information Administration showed on Wednesday.

BOEM Extends O&G Lease Comment Period

The Bureau of Ocean Energy Management (BOEM) is extending the public comment period for the Request for Information (RFI) and Comments on the Preparation of the

Rio Tinto Pulls Plug on Mozambique Coal Venture

Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending

Fuels & Lubes

There’s Still Time for SHIPPINGInsight Award Entries

Entry submissions for the first SHIPPINGInsight Award are due Friday, Aug. 1, but organizers said they will continue to accept nominations through following week to provide some extra time.

MOL Ship Management Earns Energy/Enviromental Certifications

First company to receive ISO50001 certification from Nihon Kaiji Kyokai.   MOL Ship Management Co., Ltd. (MOLSHIP), a core ship management company in the corporate group headed by Mitsui O.

Kenya's Mombasa Port Traffic Up 13% in H1

Container traffic through Kenya's biggest port grew by 12.8 percent in the first six months of the year after new cargo handling infrastructure was built to shorten the turnaround time for ships.

News

Top Ships Enters 3 New Charters

TOP Ships Inc., an international owner and operator of modern, fuel efficient "ECO" MR tanker vessels focusing on the transportation of petroleum products, announced

ATB Barge Project for Murray & Associates

Murray & Associates, LLC has been commissioned to deliver a comprehensive design package for an 185,000 BBL Chemical Tank Barge new construction project. The

Gladding-Hearn Builds New Boat for Delaware Pilots

The Delaware pilots association has ordered its third pilot boat of the popular Chesapeake class from Gladding-Hearn Shipbuilding, Duclos Corporation. Delivery

Government Update

BOEM Extends O&G Lease Comment Period

The Bureau of Ocean Energy Management (BOEM) is extending the public comment period for the Request for Information (RFI) and Comments on the Preparation of the

China Evacuates Workers in Libya to Malta

China has evacuated several hundred workers from Libya and is taking them by ship to Malta, the head of the Malta Civil Service, Mario Cutajar, said on Wednesday.

US Blacklists North Korean Shipping Firms

The United States on Wednesday blacklisted two North Korean shipping firms, Chongchongang Shipping and Ocean Maritime Management, following a similar move by the United Nations.

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Sonar
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: 0.1157 sec (9 req/sec)