Low Holiday Demand Sees Prompt Prices Dip

Posted by Michelle Howard
Thursday, April 17, 2014

Declining consumption before the Easter holiday pushed central European spot power prices lower on Thursday, though Hungarian day ahead remained at a regional premium due to less supply, traders said.


In the over-the-counter market, electricity for Friday fell 16 percent to 26.40 euros ($36.45) per megawatt-hour in the Czech Republic, dipped 11.5 percent to 29.50 euros in Slovakia and declined nearly 4 percent to 42.30 euros in Hungary.

Data from Thomson Reuters Point Carbon showed forecasts for falling consumption across the region headed into the long holiday weekend. Wind generation in Germany was pegged steady at around 6.2 gigawatts for Friday, with solar output easing to 3.9 GW.

Further along the curve, the Czech Cal '15 rose 10 cents to 34.10 euros on the Prague-based Power Exchange Central Europe. The Hungarian front year gained 10 cents to 43.60.

The benchmark German Cal '15 contract climbed 5 cents to 34.90 euros on EEX in afternoon trade. Day ahead on Poland's POLPX exchange fell to 192.83 zlotys ($63.46) from 204.83 zlotys.

Around the region, Russian President Vladimir Putin said Moscow will wait a month for Ukraine to foot its gas bills before possibly switching to demanding upfront payments.

Russia's South Stream pipeline project must not be blocked for political reasons and Bulgaria plans to start construction this year despite the crisis in Ukraine, Bulgarian Energy Minister Dragomir Stoynev said.

Brent crude steadied under $110 a barrel, after hitting a six-week high in the previous session, as traders assessed the risk that tensions in Ukraine could disrupt supplies from Russia.

European Union carbon futures rose nearly 3 percent to 5.67 euros a tonne in afternoon trading.


($1 = 0.7243 euro) ($1 = 3.0385 Polish zlotys)

(Reporting by Michael Kahn; Editing by Dale Hudson)

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


Rolls-Royce to Cut More Staff of Marine Unit

Britain's Rolls-Royce said it would cut an additional 400 staff from its marine business by the end of next year, its latest move to make the unit more efficient

Wärtsilä Debuts Package for hydropower & industrial plant

Wärtsilä Corporation, a global leader in complete lifecycle power solutions for the marine and energy markets, expands into a new market segment, offering a comprehensive package of seals,

Smith Taken on Rolls-Royce Holdings Board

Rolls-Royce Holdings plc today announces the appointment of Sir Kevin Smith CBE as a Non-Executive Director.  Sir Kevin will join the Board with effect from


Finland Scraps LNG Terminal Plan

Finnish gas utility Gasum has abandoned its plans to build the Finngulf liquefied natural gas  (LNG) import terminal in Finland with an offshore pipeline connection

MARAD Backs Emissions Reduction Projects

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced it will provide more than $1 million to support the development of two new emission-reducing maritime solutions.

Rolls-Royce to Cut More Staff of Marine Unit

Britain's Rolls-Royce said it would cut an additional 400 staff from its marine business by the end of next year, its latest move to make the unit more efficient


Weak Capesize Rates Depress Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Tuesday on weak demand for capesize vessels. The overall index,

U.S. Investigators Head to Florida to Probe Ship Lost in Hurricane

Federal safety investigators traveled to Florida on Tuesday to investigate the U.S. container ship lost at sea after being hit by powerful Hurricane Joaquin, leaving

USCG Search for Missing Crew of El Faro

Coast Guard search and rescue crews continue searching for possible survivors from the cargo ship El Faro Monday night, covering a total search area of more than 160,574 square nautical miles.

Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Winch
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: 0.4968 sec (2 req/sec)