French and German electricity prices will be affected by the diverging wind trends on Monday
French and German power rates are expected to diverge on Monday. Higher wind generation is expected to pressure German spot prices, while higher demand combined with lower wind supplies should lift French day-ahead contract prices. LSEG data shows that the German and French baseload power contracts for Mondays were not traded by 8:56 GMT Friday. LSEG analyst Xiulan Xiulan said that the European power market showed a bearish sign on Monday. This was mainly due to strong wind generation in Germany and Austria.
German Spot Falls on Stronger Wind Output
German spot electricity prices for Thursday dropped as the wind forecasts are lower, and the demand is expected to be lower. The French price increased on higher demand after Tuesday's holiday. German baseload for the day ahead fell 10.3%, to 70.40 Euros ($82.10) per megawatt-hour (MWh), by 0956 GMT. The French baseload for the day ahead was up by 38.9% to 31.25 Euro/MWh. LSEG data indicated that German wind power production was expected to increase by 4.1 gigawatts on Thursday to 30 GW.
Eneos, a Japanese company, warns of rising costs in developing offshore wind businesses
Eneos Holdings - Japan's largest oil refiner that has expanded into renewable energy - warned on Wednesday of the rising cost of developing their offshore wind project. Their CEO said returns were difficult. Eneos' Japan Renewable Energy unit won the government auction in March 2024 to develop a 375 megawatt offshore wind farm in northern Akita Prefecture, Japan, with Spain's Iberdrola, and Tohoku Electric Power Co. Construction will begin in 2020, and operations are expected to begin in 2029.
EUROPE GAS-European gas prices are soaring on the back of mild weather and strong supply
The Dutch and British electricity prices were in a tight range on Tuesday, as the mild weather kept heating demand low and amid a strong supply of LNG and natural gas from Norway. LSEG data shows that the benchmark Dutch front-month contract was up 0.04 euros at 31.05 Euro per megawatt hour (10.53/mmBtu) at 1032 GMT. The Dutch day-ahead contracts was down by 0.14 euros at 30.30 Euro/MWh. The British day-ahead price of gas was down 3.75 pence, at 66.75 p/therm. And the front-month contract increased 0.47 pence, to 81.10 pence/therm.
EUROPE GAS - European prices are mixed due to divergent weather forecasts
Dutch and British electricity prices were mixed Monday morning, reflecting forecasts for a quicker return to cooler temperatures that will increase gas demand. However, the weather is still expected to be warmer than normal and windy in the coming days. LSEG data shows that the benchmark Dutch front-month contract was up 0.03 euros at 31.21 Euro per megawatt hour at TTF hub, or $10.58/mmBtu at 0924 GMT. The Dutch day-ahead contracts was up by 0.03 euros at 31.08 Euro/MWh. The British day-ahead price of gas was down 3.05 pence, at 73.20 pence p/therm.
Spot price expected to be affected by strong German wind output
The European spot electricity prices are expected to drop on Tuesday as the wind power supply is expected to increase and demand in France will fall during Armistice Day, November 11. The French and German contracts remained untraded as of 0846 GMT. According to LSEG, the French contract had a range of bids and offers between 15 euros ($15.16), and 24 euros, per megawatt hour. The data revealed that the closing prices for Monday in France were 49.10 euro/MWh and in Germany 109.90 euro/MWh.
Prices rise due to wind and nuclear shortages
The European day-ahead electricity prices rose on Thursday, as supplies of wind and nuclear power tightened. Demand in France, however, was expected to be unusually high, given the lower temperatures, for a Friday. "The lifted residue load underpins a positive signal," said LSEG Analyst Riccardo Paraviero. He was referring to the increasing requirements for thermal capacities. Operators were also ramping up their gas availability to take advantage higher prices.
Nikkei reports that Japan's PM has rejected the US request to ban Russian imports of energy
The Nikkei daily, citing Japanese officials, reported that the Japanese Prime Minister Sanae Takaichi had told U.S. president Donald Trump during their meeting on Wednesday in Tokyo that it would be difficult to ban Russian LNG imports. Sakhalin-2 is a project in which Japanese companies Mitsui & Mitsubishi have stakes. Before Trump's Asia visit this week, the U.S. encouraged buyers of Russian oil, including Japan to stop imports and put sanctions on Moscow’s two largest oil exporters…
Rio Tinto warns of an uncertain future for Australia's largest aluminum smelter
Rio Tinto warned that Australia's biggest aluminium smelter Tomago may have to close down if it cannot source power at rates commercially viable beyond 2028, when its current electricity deal expires. Tomago Aluminium, the largest power user in New South Wales, was built to take advantage Australia's abundant and cheap coal. Rio Tinto stated that power accounts for more than 40% in Tomago’s operating costs. Both coal-fired options and renewables are expected to increase sharply once the existing contract expires.
German Spot Falls as High Wind Output Continues
The German spot price of power for Tuesday dropped as the already high wind output was expected rise again and outweigh demand. In contrast, France's spot price rose as wind supply was falling and demand was increasing. LSEG data shows that the German day-ahead contract at 0836 GMT was 65.50 Euros ($76.39 per megawatt hour), down 4.2% on Monday's price. Data showed that the French equivalent is 54.75 euros/MWh - a 14.8% increase on the price paid Monday.
LAUDES-U.S. cities drive energy transition despite Trump resistance
The U.S. By Carey L. Mayors report that many cities still have a long way to go in improving building efficiency, electrifying cars and neighborhoods, training employees for new energy jobs, and designing for tomorrow. Keith Wilson, the mayor of Oregon's biggest city, said that cities like Portland don't wait for federal permission before taking action on climate change. Portland, Oregon created last year the nation's first zero emission delivery zone. This is where electric vehicles and bicycles are used to supply shops and restaurants.
A2A CEO: Milan's data center capacity will increase tenfold within five years
The Chief Executive of A2A, an energy group, said that data centres in the financial capital of Italy, Milan, are expected to increase their capacity by around two gigawatts over the next five-year period, which is a tenfold rise from the current levels. A2A, a utility that will provide the electricity needed, can expect to see a boost in revenues from the rapid expansion of data centers, required to drive artificial Intelligence. Milan's data centres have a capacity of 200 megawatts, but the city's peak demand for electricity is currently 1.5 GW.
Senator: US energy prices will spike due to Trump's decision to cut grants
The Trump administration’s plans to cancel nearly eight billion dollars in Energy Department grants is illegal, because contracts were already signed. It will also cause consumer energy costs to skyrocket. The Energy Department cancelled $7.56 billion of funding for clean energy project earlier this month because it did not believe that the projects would provide enough return to taxpayers. Senator Martin Heinrich from New Mexico stated that these projects would have increased energy and flexibility to the grid.
French spot slightly higher on small variations in demand and supply
The European wholesale electricity prices were virtually unchanged on Thursday, with French levels marginally higher and Germany's remaining untraded due to slight variations in demand and supply. The market is sending mixed signals. "While wind generation is down (the overall drop in consumption) and residual load suggest (a) mildly bearish signal," said LSEG Analyst Xiulan He. He added that coal and gas capacity availability were both up. At 0800 GMT on Friday…
The French higher ups are an outlier in a windy environment.
The German wind energy supply was a negative factor on the European wholesale electricity prices on Wednesday, but France's day-ahead price position was boosted by a decrease in solar production. In a day-ahead German forecast, LSEG analyst Xiulan He said that the wind supply would increase steadily up until hour 14. After which it will stabilise and then show a slight decrease. He also predicted that Germany's exports were expected between hours 10-17.
Grid operators claim that the UK's winter energy is secure, despite lower gas margins.
In their winter outlooks, the electricity and gas grid operators in Britain expect that there will be enough energy this winter despite tighter margins for gas due to declining production at home. National Gas and Britain's National Energy System Operator publish annual reports on the supply and demand of gas and electricity for the coming winter in order to assist businesses and governments prepare. In its winter outlook, Glenn Bryn-Jacobsen said that only a few events…
Spot prices are affected by a combination of falling demand and increased supply
On Wednesday, a higher supply forecast led to a rise in the wholesale electricity prices across Europe. Demand is expected to decrease. The main reason for the decline in German residual load is due to increasing wind power supply. The availability of thermal energy in Germany is increasing across the board. LSEG data show that the French day-ahead power contract, which is a baseload electricity contract, was down 8.6% to 74 euros ($86.01), while its German counterpart was not traded with a price of 109 euro/MWh after a close of 127.8 Euros, LSEG said.
Solar industry in Spain warns about price threats to energy transition
The number of hours in which solar power prices were zero or negative has increased this year, a sign that the supply is exceeding demand, and producers are forced to pay for power offloading or to stop their plants. This trend could threaten Spain's move to green energy. UNEF reported that between January and September of this year, solar energy producers experienced 693 hours with negative or zero electricity prices, which is the same as last year.
French spot electricity prices rise on windpower decline
On Thursday, the French spot electricity contract was higher for Friday due to lower wind power production in the region. By 0836 GMT, the French baseload day-ahead contract was up by 34.4% to 77 euros per megawatt hour (MWh). The German equivalent contract, which closed at 77.25 euro/MWh last Wednesday, was not traded. Analysts at Engie’s Energy Scan said that after a period in which spot prices were very low due to factors such as strong wind output and higher hydro…
Slovakia pushes back on pressure over Russia energy purchases
Slovakia, on Wednesday, resisted pressure to reduce its purchases of Russian gas, saying that it was willing to discuss the matter, but pointed out certain European states who increased their purchases. Both Slovakia and Hungary, both EU member states, are led by populists who have maintained political ties with Russia. Russia supplies most of their oil requirements, and they have argued it would be costly to stop using Russian supplies once their infrastructure has been built around them.