Europe Power - Spot Down on Rising Temperatures, Solar Output

Wednesday, March 05, 2014

Reuters- European spot power prices fell on Wednesday due to forecasts for warmer weather in France and expectations for a rise in solar electricity production in both Germany and France.

The German baseload power contract for Thursday delivery fell 4.5 cents to 41.5 euros ($57.03) per megawatt-hour (MWh) in the over-the-counter (OTC) market.

The equivalent French day-ahead contract was 1.3 euros lower at 45.7 euros per MWh.

Temperatures in France were expected to rise by 0.3 degree Celsius to 7.5 degrees on average on Thursday, while they were set to remain broadly stable around 5.3 degrees in Germany.

The 2013/2014 winter was France's second-warmest since records began in 1900, according to official French forecaster Meteo France, with temperatures about 1.8 degrees Celsius above seasonal averages.

Temperatures in France are a major swing factor for European power prices in the winter because of French households' heavy reliance on electrical heating.

On the supply side, solar power output was expected to rise by 290 MW in Germany and 330 MW in France on Thursday, according to Thomson Reuters Point Carbon data.

French nuclear power availability was unchanged at 84.6 percent, but the return to the grid of EDF's 900 MW Bugey 5 nuclear reactor was delayed by a day to Thursday.

Contracts were also lower along the forward curve, tracking oil prices and correcting some of the gains made earlier this week on the back of the political tensions around Ukraine.

"Looking back now, the market over reacted to the situation, and most of the price gains have been given back," a London-based trader said.

The German benchmark price for the year-ahead, Cal '15 baseload, was down 10 cents at 36.2 euros per MWh, after hitting an eight-session high of 36.75 euros on Monday.

The equivalent French position was unchanged at 42.85 euros per MWh.

Brent crude oil futures fell below $109 a barrel, down for a second day on an easing of fears that Russia's incursion into Ukraine could lead to war.

In sector news, European Union antitrust regulators fined power exchanges across the region a total of 6.9 million euros ($9.5 million) for anti-competitive practices thwarting Europe's strategy to create a single energy market.

($1 = 0.7277 euros)

(Reporting by Michel Rose; editing by Jane Baird)

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

People & Company News

Stena Sonangol Suezmax Pool Rings in 10 Years

Stena Sonangol Suezmax Pool celebrates 10 years of collaboration and trading.   The 10th anniversary celebrations took place in London on May 20. Today on May 26 it is Houston’s turn and,

UNOLS Seeks Fleet Improvement Committee Chair

The University-National Oceanographic Laboratory System (UNOLS) informs it is seeking nominations to fill a Fleet Improvement Committee (FIC) Chair position.   The position,

Former Petrobras Exec Sentenced to 5 Years Jail

A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday,

Contracts

Former Petrobras Exec Sentenced to 5 Years Jail

A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday,

Statoil Awards Hull Cleaning Contract to GAC

Eco-friendly HullWiper technology to fight fouling and enhance efficiency for oil and gas company fleet    GAC EnvironHull has signed a contract with the international

Kongsberg to Equip 2 New Jack-Up Vessels

Kongsberg has been selected to deliver a complete Electro, Instrument & Telecom (EIT), propulsion, safety, automation and dynamic positioning package for two new Gusto NG-2500X DP II design,

Environmental

Second Sea Lion Rescued from California Oil Spill Dies at SeaWorld

A second sea lion rescued from along California's oil-fouled coastline near Santa Barbara has died at SeaWorld San Diego, where veterinarians are still caring for

DuPont to Introduce Scrubber at Nor-Shipping

Belco Technologies Corporation (BELCO), a DuPont company, will introduce the DuPont Marine Scrubber (formerly the BELCO Marine Scrubber) at shipping and maritime exhibition Nor-Shipping in Oslo.

CAT’s New Dual Fuel Engine M 4G DF

At the beginning of 2015 the exhaust limit values for sulfur oxides (SOx) grew ever tighter in emission controlled areas. And with the start of 2016, nitrogen oxides

Energy

Former Petrobras Exec Sentenced to 5 Years Jail

A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday,

Kongsberg Technology for Johan Sverdrup Field

Kongsberg Maritime has been awarded a call-off order for delivery of the Safety and Automation System (SAS), Life Cycle Simulator and SAS Information Management

Second Sea Lion Rescued from California Oil Spill Dies at SeaWorld

A second sea lion rescued from along California's oil-fouled coastline near Santa Barbara has died at SeaWorld San Diego, where veterinarians are still caring for

News

Stena Sonangol Suezmax Pool Rings in 10 Years

Stena Sonangol Suezmax Pool celebrates 10 years of collaboration and trading.   The 10th anniversary celebrations took place in London on May 20. Today on May 26 it is Houston’s turn and,

UNOLS Seeks Fleet Improvement Committee Chair

The University-National Oceanographic Laboratory System (UNOLS) informs it is seeking nominations to fill a Fleet Improvement Committee (FIC) Chair position.   The position,

Former Petrobras Exec Sentenced to 5 Years Jail

A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Sonar 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: 0.1631 sec (6 req/sec)