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Power & Energy Commodity News

EPEX SPOT and EEX advocate market-based, holistic power market design

Pairs, Leipzig, 12 July 2012

EPEX SPOT SE and the European Energy Exchange AG (EEX) intensively participate in the debate on the European market design and on the implementation of the energy turnaround in Germany – most recently in the framework of their comment on the expert report entitled “Studies regarding a future-oriented market design” prepared by the Institute of Energy Economics at the University of Cologne (EWI) on behalf of the German federal government.

Read more: EPEX SPOT and EEX advocate market-based, holistic power market design

Guvnor secures $500m for new refinery

Antwerp, 11 July 2012

Gunvor Group Ltd is moving ahead with plans for its new refinery in Belgium, having successfully launched a USD 500 million borrowing base secured revolving credit facility (RFC) to support operations. ING and Rabobank are the two Bookrunning Mandated Lead Arrangers of this facility, which will be used to finance the purchase of crude oil and feedstock for the refinery, i.e., blending products, storage and processing at the refinery's premises, and carrying of receivables.

 

Read more: Guvnor secures $500m for new refinery

CME Group ethanol outlook report

Chicago, 9 July 2012

Drought and soaring corn prices change dynamics for upcoming marketing year - Sep corn prices have soared by 36% in the space of just three weeks, rallying to a 10-month high of $7.14.  Ethanol prices have largely kept pace with that rally but the Sep ethanol-corn margin is still negative at -11.5 cents per gallon.  Ethanol producers had been hoping for a bumper crop this summer that would provide plenty of corn and better ethanol-corn profit margins.  However, the corn supply outlook has now tightened up due to a month of severe heat and dry conditions.

Read more: CME Group ethanol outlook report

EU power grids needs Eur104 bn by 2022: Entso-e

London, 8 July 2012

Platts: EU power transmission system operators need to spend Eur104 billion ($128 billion) between 2012 and 2022 to refurbish or build roughly 52,000 kilometers of high-voltage power transmission lines, EU power TSO body Entso-e said as it published its latest 10-year network development plan Thursday.

Read more: EU power grids needs Eur104 bn by 2022: Entso-e

Contigo expands into European energy market with HAKOM

London, July 2012

Specialist software developer Contigo has signed a landmark agreement that will see its continued expansion into the European energy market. The Birmingham-based developer has completed a partnership agreement with Austrian energy data management experts HAKOM, which will see them act as a sales channel partner for Contigo’s flagship enTrader suite of products.

Read more: Contigo expands into European energy market with HAKOM

EEX extends incentive model for NatGas

Leipzig, 28 June 2012

The European Energy Exchange (EEX) extends its incentive model on the Natural Gas Derivatives Market by three additional months and thus creates further impulses for long-term exchange trading. The programme is scheduled until the end of September 2012 and includes all participants admitted for trading on the Natural Gas Derivatives Market as well as all(exchange and OTC) products

Read more: EEX extends incentive model for NatGas

EEX spins off Gas Business

Laipzig, 25 June 2012

The European Energy Exchange (EEX) will spin off the Natural Gas Spot and Derivatives Market into a separate company owned to 100 percent with the corporate name “EGEX European Gas Exchange”. Five years after the launch of exchange gas trading in Germany, this step paves the way for cooperations in the field of natural gas trading.

Read more: EEX spins off Gas Business

China's oil demand edges up

Singapore, 21 June 2012

Platts Report: China's apparent oil demand* rose just 0.5% year on year in May to 39.72 million metric tons (mt), or an average 9.39 million barrels per day (b/d), a just-released Platts analysis of recent Chinese government data showed. Apparent oil demand in May was the second lowest so far this year after April, when demand rose 0.3% from a year ago to 38.32 million mt, or 9.36 million b/d.

Read more: China's oil demand edges up

Draw of 2mbbl US crude stocks expected

New York, 12 June 2012

Platts – U.S. crude oil stocks are expected to show a draw of two million barrels for the week ending June 8, according a Platts survey of analysts conducted Monday. The American Petroleum Institute (API) is scheduled to release its weekly data at 4:30 p.m. EDT (2030 GMT) Tuesday, while the U.S. Energy Information Administration's (EIA) weekly crude oil statistics will be released at 10:30 a.m. EDT (1430 GMT) Wednesday.

Read more: Draw of 2mbbl US crude stocks expected

European power prices fall 12% in May

London, 6 June 2012

European power prices fell 12% month on month in May and were down nearly 26% year-on-year, Platts reported. The average cost of power in continental Europe, as indicated by the Platts’ Continental (CONTI) Power Index, a demand-weighted baseload average of day-ahead contracts assessed in Germany, Switzerland, France, Belgium and the Netherlands, was 43.28 Euros (Euro) per megawatt hour (/MHh) in May compared to Eur49.37/MWh in April and Eur58.51/MWh in May 2011.

Read more: European power prices fall 12% in May