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

Finance

Major Ivorian Cocoa Buyers Boycott Local Exporters Scheme

Major cocoa buyers are boycotting a scheme in Ivory Coast aimed at guaranteeing local firms a share of the lucrative export market, arguing that these players lack

Matson Pumps $30 Million into Alaska Operations

Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services.

General Dynamics Tops Q2 Estimates

General Dynamics Corp, a maker of ships, tanks and business jets, reported higher-than-expected quarterly earnings and revenues on Wednesday, and sharply raised its outlook for full-year profit.

Energy

USCG Investigates Oil Slick off California Coast

The U.S. Coast Guard was investigating a large oil sheen off the California coast west of Santa Barbara on Wednesday, a spokeswoman for the agency said.   The slick,

Mexico to Postpone Deep Water Auction

Mexico, which has started to open its nationalized oil industry to additional private investment, will postpone auctions for deep-water oil exploration and production

Oregon Bridge Danglers Hope to Delay Shell's Arctic Drilling

Protestors rappelled off a bridge in Portland, Oregon on Wednesday hoping to delay Royal Dutch Shell's Arctic oil exploration this summer by blocking the return

News

Two New Hybrid RTGs for Port of Shanghai

Corvus Energy informs it will provide the battery systems for an additional two hybrid solutions for new rubber-tired gantry cranes (RTGs) that will be produced

USCG Investigates Oil Slick off California Coast

The U.S. Coast Guard was investigating a large oil sheen off the California coast west of Santa Barbara on Wednesday, a spokeswoman for the agency said.   The slick,

Puget Sound Reports Container Volume Growth

Less congestion and efficient cargo movement helped international container volumes through the Puget Sound gateway improve 14 percent in June compared to June 2014, the port reported.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Ship Electronics Ship Repair Shipbuilding / Vessel Construction 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: 0.1739 sec (6 req/sec)