Spot Down on Warmer, Windy Weather

Posted by Michelle Howard
Thursday, April 24, 2014

European spot power prices dropped on Thursday on forecasts for warmer weather and a rise in wind power production in Germany and France.

 


German baseload for Friday delivery was 1.8 euros down day-on-day at 33.75 euros ($46.67) a megawatt hour (MWh) while French day-ahead baseload was off 2 euros at 35 euros per MWh.
 


German wind power supply is due to rise by 1.8 gigawatts (GW) on Friday and solar supply will also add 0.6 GW, Thomson Reuters Point Carbon figures showed. In France, wind electricity production was also expected to rise 1.3 GW.
 


Temperatures were forecast to climb by 1.7 degrees Celsius in Germany and 0.3 degree in France between Thursday and Friday.



Consumption was set to drop by 1.4 GW and 1.1 GW in both countries respectively.



French nuclear power availability has tightened over the last few days, however, with an unplanned outage at EDF's 1,300-MW Paluel 1 nuclear reactor on Thursday bringing the offline rate to almost 31 percent.



Along the power forward curve, the German Cal '15 baseload contract was up 15 cents from the previous day at 34.80 euros, tracking higher oil and carbon prices.



The equivalent French Cal' 15 contract remained untraded, in a bid/ask range of 42.00/42.05 euros.



Oil edged further above $109 a barrel as the dispute between Russia and the West over Ukraine added to supply concerns, though record U.S. crude inventories kept gains in check.



EU carbon ticked up 0.35 percent, with the Dec '14 last at 5.74 euros a tonne.



($1 = 0.7231 Euros)

(Reporting by Michel Rose; Editing by Mark Potter)

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

Environmental

Tropical Storm Dolly Heads toward Mexico

NOAA's National Hurricane Center issued a tropical storm warning in effect from Cabo Rojo to Barra El Mezquital, Mexico as Tropical Storm Dolly approaches the country’s eastern coast.

Ballast Water Leadership

Admiral Paul Zukunft, the new U.S. Coast Guard Commandant, could fill the BWT leadership void. Global efforts to combat the spread of invasive species in ballast

BSEE Conducts Oil Spill Response Equipment Review

Earlier this week, BSEE's Oil Spill Response Division (OSRD) conducted an onsite review of oil spill response equipment listed in DCOR, LLC's Oil Spill Response Plan for platforms offshore Long Beach,

Energy

Shell CEO: US Should Export Oil, Embrace Global Markets

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable.

Bureau Veritas Diversifies with MatthewsDaniel Acquisition

Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry.

Fogal Retires from Zentech After 57 Years in O&G

Robert “Bob” “Sonny” Fogal, Jr., one of the icons in the offshore oil and gas industry, has decided to retire from front-line work as Zentech’s Director of Business Development.

News

Shell CEO: US Should Export Oil, Embrace Global Markets

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable.

Fuel-saving Modifications for Containerships’ Engines

Mitsui Engineering & Shipbuilding Co., Ltd., and 100% owned subsidiary MES Technoservice Co., Ltd., have received an order from a Taiwan shipowner for fuel-efficiency

Tropical Storm Dolly Heads toward Mexico

NOAA's National Hurricane Center issued a tropical storm warning in effect from Cabo Rojo to Barra El Mezquital, Mexico as Tropical Storm Dolly approaches the country’s eastern coast.

Wind Power

Master Fined After Wind Farm Collision

The master of a wind farm support vessel has today been made to pay £3,000 in fines and costs after pleading guilty to breaches of maritime collision regulations.

CWind Launches New Vessel

CWind, a provider of integrated services to the offshore wind industry, has launched its new vessel CWind Fulmar in a naming ceremony in Brightlingsea. The CWind Fulmar, built by CTruk Ltd.

Policy Uncertainty Threatens to Slow Renewable Energy Momentum

IEA forecast sees renewable power as a cost-competitive option in an increasing number of cases, but facing growing risks to deployment over the medium term. The

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Simulators Shipbuilding / Vessel Construction 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: 0.1405 sec (7 req/sec)