LONDON/FRANKFURT, April 4 (Reuters) – European benchmark
power, natural gas and coal prices have dropped to multi-year
lows and gas prices in particular could drop further in coming
months given oversupply and weak demand.
European energy prices have fallen steadily this year as a
result of a mild winter and a supply glut. A warmer-than-average
outlook for the start of spring has put further pressure on
prices this week.
FRANKFURT/PRAGUE, March 27 (Reuters) – The growing influence
of weather on Europe’s wholesale power markets will make them
increasingly volatile, creating new short-term trading
opportunities, the head of Danske Commodities said on Thursday.
Rising supply from weather-dependent solar installations and
wind farms has forced market players to wrestle with bigger
intraday swings in supply and demand, Torben Nordal Clausen told
FRANKFURT, March 14 (Reuters) – Germany’s two-year-old
freeze on new exploration for gas means Wintershall
is less able to develop expertise at home and therefore risks
losing its competitive edge abroad, a board member of the energy
Environmental and political opposition to U.S.-style shale
gas fracking has led German authorities and policymakers to
refuse new licences, even for conventional gas technology, while
debate continues over a federal law on the future framework.
KASSEL, Germany, March 13 (Reuters) – BASF oil
and gas unit Wintershall said the Ukraine crisis would not
scupper an asset-swap agreement with Gazprom which
would give Russia greater access to gas trading and storage in
Wintershall Chief Executive Rainer Seele said on Thursday
that the companies had all the necessary approvals and the
arrangement, agreed in 2012 and approved late last year, was now
only a matter of operational implementation.
FRANKFURT/BRUSSELS, March 10 (Reuters) – Brussels dealt a
blow on Monday to two major Russian pipeline projects to supply
natural gas to Europe, in the latest sign of strains in the
energy links between Moscow and the European Union.
Russia’s seizure of Ukraine’s Crimea region has already
shaken political relations between Russia and the European
FRANKFURT, March 7 (Reuters) – EnBW, Germany’s
third-biggest power utility, reported a 5.3 percent drop in
underlying profits on Friday and warned of a similar possible
fall this year as its conventional plants struggle to compete
with subsidised renewable power.
The group said its adjusted earnings before interest, tax,
depreciation and amortisation (EBITDA) fell to 2.22 billion
euros ($3.07 billion) in 2013 and could decline further, by up
to 5 percent, in 2014.
FRANKFURT, Feb 27 (Reuters) – Germany’s current policy of
rapidly deploying renewable energy should be redesigned to
prevent its industry from losing global market share because of
high power costs, a report by international think-tank IHS
said on Thursday.
The research by IHS, a global research, analysis and
specialist information group, was funded by companies in
Germany’s chemical and oil and gas industries such as BASF
, Bayer and Exxon Mobil and
national business federations.
LONDON/FRANKFURT (Reuters) – Tougher European financial regulations have prompted banks to leave power and gas trading, meaning greater dominance by utilities and trading houses and less appeal for investors.
The global commodities market for banks has shrunk to about $4 billion from as high as $12 billion at the end of the last decade, partly as a result of reflecting stricter restrictions on banks trading with their own money.
ESSEN, Germany Feb 13 (Reuters) – German utility RWE’s
trading subsidiary is seeking to expand in North
American and Asian energy and commodities markets because of
Europe’s slow growth and increased regulation, a senior manager
Within five years, operating profit from overseas activities
will account for 50 percent of RWE Supply & Trading’s overall
result, compared with 15 to 25 percent now, Peter Krembel, head
of global power and gas trading and origination, said in an
interview earlier this week.
ESSEN, Germany (Reuters) – Weather-driven surges of German solar and wind power may lead to higher costs for Austria as its grid is forced to take measures to avoid breaking down, a Austrian energy regulator said, calling for a region-wide solution to excess flows.
Martin Graf, who shares leadership of the Vienna-based E-Control authority with Walter Boltz, said Austria already must deal with a constant unwanted supply of 2,000 megawatts of power from northern Germany that flows into its grid via Poland and the Czech Republic, he said.