Prices of gas in Europe are rising as Norwegian supplies increase.
The Dutch and British gas wholesale prices were trading in a narrow band early on Tuesday, as the higher temperatures in Europe restricted heating use. Meanwhile, the cooling demand and low winds generation mainly affected the power market. LSEG data shows that the benchmark Dutch front-month contract was up 0.37 euros at 33.40 Euro per megawatt-hour or $11.55/mmBtu at 0848 GMT. The Dutch day-ahead contract increased by 0.25 euros to 32.38 Euro/MWh. The British day-ahead contract fell 0.25 pence to 78.00p/therm.
German wind power boosts spot prices
German and French baseload electricity prices dropped by about 10% on Tuesday, as the wind power was expected to increase in Germany. However, price remained high due to a heatwave that has affected Europe. As temperatures have risen, authorities in several European nations have issued health warnings. Wildfires in Turkey & France have forced more than 50,000 to evacuate. On Monday, benchmark European electricity prices exceeded 100 Euros per Megawatt Hour (MWh) for the first since April due to cooling system requirements and low wind output.
Malaysian data centres face higher electricity costs and unclear pricing
The operators of energy-hungry data centres in Malaysia are scrambling to reassess costs after steeper-than-expected power tariffs kicked in on Tuesday, industry players said, clouding prospects for the Southeast Asian hub of digital investments. Malaysia's competitive electricity rates, which make up the majority of data centre operating costs, have made it a magnet for companies such as Microsoft and Google, who invest billions in Malaysia. An…
EU approves Italian scheme to support energy-intensive industries
Italy's Energy Minister said that the European Commission had approved a scheme by the Italian government to support power-intensive industries as well as a green transition in Italy. Gilberto Pichetto-Fratin, in a press release, said that the Commission considered "Energy Release 2.0" to be compatible with EU rules on internal markets and regulations on state aid. In its first phase, the scheme will offer electricity at a price fixed of 65 euros per Megawatt-hour.
Polish Parliament approves liberalisation in wind farm regulations
The Polish Parliament approved legislation that eases rules for building onshore wind farms. According to the government, this is an important step in boosting renewable energy production and lowering electricity prices. In a vote held late Wednesday night, the rules reduced the distance between planned installations, and residential areas, but kept permitting restrictions for projects near protected natural areas. Bill will include clauses that will freeze energy prices until the end the year for householders…
Draft document shows that heavy industries will get a price reduction on electricity under the new EU regulations
A draft of the new EU rules on state aid, which are due to be published by the European Commission on Wednesday, revealed that heavy industries would receive a temporary reduction in electricity prices. This is despite criticisms from companies about high energy costs and restrictive green regulations. Eurometaux, a group of metals industry professionals, sent a warning to Ursula von der Leyen at the beginning of this month. The letter warned that the sector was losing its competitiveness in comparison with U.S. competitors and Chinese counterparts.
Prices of prompts spike as demand increases in hot weather
The European wholesale electricity prices rose sharply Tuesday as hotter weather is expected to increase demand for air conditioners, while German wind energy output dropped sharply. LSEG analyst Riccardo Paraviero highlighted the impact of a lower German wind energy supply at night. He said that this would lead to an increase in the use of gas-fired electricity. By 8am GMT, the French contract for baseload power was up by 34.5% to 74 euros ($85.76). The German contract rose 73.7% at 76 euros/MWh.
In Germany, solar power can offset the falling wind speed
In France, the baseload electricity prices were flat in comparison to the previous week. The lower wind supply that was expected across the region on Tuesday should be offset by a higher solar supply in Germany. LSEG data shows that the French baseload electricity price for Tuesday at 0855 GMT was 47 euros ($53.97 per megawatt-hour (MWh), the same as it was on Monday. Data showed that the equivalent German contract had not been traded. On Friday, both Monday contracts were not traded.
Statkraft, Norway to reduce costs by $292 million and may layoffs
Statkraft, the Norwegian state-owned utility, announced on Wednesday that it will reduce its annual costs of around 15%, or 2.9 billion crowns (US$292 million), by 2027. Statkraft cited increased global uncertainty as well as higher expenses and lower electricity prices. After reducing its hydrogen ambitions last year, the company announced in May it would no longer be developing any new green hydrogen projects because of higher costs and an uncertain demand.
Prices increase on lower wind energy and wider energy complex
European baseload electricity prices increased on Monday morning, mainly due to the expectation of a lower wind output on Tuesday and gains on other energy markets. The French day-ahead baseload contract jumped 18.40 euros, to 47.50 Euros per Megawatt Hour (MWh), by 0848 GMT. Meanwhile, the German equivalent contract was 90.85 Euros/MWh. The wind power output in Germany will decrease tomorrow, while consumption increases. "The moderate increase in solar output is not sufficient to compensate for the two changes.
Prices of EUROPE Gases rise slightly due to expected weakening in wind output
The Dutch and British wholesale prices of gas rose slightly Thursday morning, as the wind output was expected decrease. Also, LNG send-out decreased. According to LSEG, the benchmark Dutch front-month contract for the TTF hub increased by 0.15 euros to 35.95 Euro per megawatt hour at 0837 GMT. The price of August increased by 0.04 euros to 36.19 euro/MWh. The British contract was 0.81 pence more expensive at 84.61 cents per therm. Prices rose yesterday on the back of rising European electricity prices…
Prices of EUROPE GAS firm due to higher demand, French nuclear concerns and hot weather
The Dutch and British wholesale gas price rose on Wednesday morning. This was due to the rising electricity prices in France, increased cooling demand and Europe's need for gas storage sites. LSEG data shows that the benchmark Dutch front-month contract was up 0.72 euros at 35.50 Euro per megawatt hour or $11.90/mmBtu at 0837 GMT. The price of August was 0.75 euros higher, at 35.85 Euro/MWh. The British day-ahead contracts was up 1.80 cents at 83.60 pence/therm.
French spot prices rise with return of demand
On Tuesday, the French baseload electricity prices are expected to increase as demand is expected to return after both countries have returned from their Monday holidays. LSEG data shows that the French baseload electricity price for Tuesday at 0828 GMT was 30 euros ($34.30 per megawatt-hour (MWh), up 27.7% compared to last Monday. Data showed that the equivalent German contract was not traded during Whit Monday. On Friday, both Monday contracts were not traded.
The US solar energy market will slow down as Washington shifts its priorities
A report released on Monday by the top solar trade association predicts that the number of new solar energy installations in the United States will decline over the next five-year period as the industry struggles with a federal policy shift favoring fossil fuels and tariffs. According to the Solar Energy Industries Association's and Wood Mackenzie's forecast, new solar capacity in 2030 will be over 10% less than it was in 2025. This includes an assessment of the impact of federal tariffs that will be imposed on steel and aluminum…
Industry warns that high energy costs are a threat to the future of UK manufacturing
Make UK, an industry group, said that Britain must reduce its industrial energy bills which are among the highest in advanced economies to achieve its goal of a healthy manufacturing sector. The government of Keir starmer is developing an industrial strategy that will put British manufacturing, which has been hit by Brexit and soaring energy prices as well as global trade wars, on a firm footing in the coming years. The manufacturing association…
Millions of Britons will see their energy bills drop as the price cap drops 7%
After Ofgem announced that its domestic price cap will fall by 7% in July to reflect lower wholesale prices, millions of British households can expect lower energy bills. The government is under pressure to ease the cost of living squeeze and this reduction comes as welcome news. Global wholesale energy prices have fallen. "While this is the primary cause, changes in supplier business costs also had an impact on falling energy prices," Ofgem stated in a press release.
Denmark Plans Offshore Wind Tender With Up to $8.3 Billion Subsidy
Denmark will launch offshore wind tenders with a capacity of three gigawatt (GW), enough to power three million homes, its energy ministry said on Monday, offering subsidies to developers of up to 55.2 billion Danish crowns ($8.32 billion).The three tenders will open in the autumn this year and cover two areas in the Danish North Sea and one in the waters separating Denmark from Sweden.Two tenders will close in spring 2026 and one in the autumn of 2027, with completion expected by 2032 and 2033 respectively.The offshore wind industry has grappled with sk
Spot prices are affected by the rising wind supply and lower demand
The European spot electricity prices for Wednesday are lower than the Tuesday price because wind power is expected to increase in the region, and demand is expected to fall. At 0928 GMT the German day-ahead price was 70.75 euro ($78.57), below Monday's closing price of 81.5 euros. LSEG data show that the French baseload price for the next day was 36 euros/MWh. This is a 22.7% decrease compared to Monday's spot result. LSEG data indicated that on the supply side Germany expected wind output to increase by 3.6 gigawatts to 11.5 GW Wednesday…
Engie France reports marginal increase in first-quarter profits
The French utility Engie announced a marginal increase in earnings for the first quarter on Thursday. This was due to weaker hydropower conditions as well as lower electricity prices. The company, Europe’s largest gas network operator said that its earnings before interest, tax and nuclear power (EBIT) rose by 0.5% on an annual basis to 3.7 billion euro ($4.14 billion). The price of European gas and power has continued to drop after a peak in mid-February. This is due to concerns about a slower growth economy because of global trade tensions.
Denmark Plans to Offer Up to $8.3 Billion in Subsidies for Offshore Wind
Denmark's energy ministry announced on Monday that it will offer offshore wind tenders for a maximum of 3 gigawatts (GW), which is enough to power up to three million homes. The subsidies offered to developers could reach as much as $55.2 billion Danish crowns (8.32 billion dollars). Three tenders are scheduled to open this autumn, covering two areas of the Danish North Sea as well as one area in the waters between Denmark and Sweden. The two tenders are expected to close in spring 2026, and the other in autumn 2027.
