European gas prices mixed, Japan power prices sharply down

European gas prices were mixed yesterday as the rally on Asian markets came to an end but with prices stabilizing at high levels. Indeed, JKM spot prices were almost stable yesterday: +0.08% day-on-day, at €91.284/MWh. By contrast, thanks to higher temperatures, baseload spot power prices on the Japan Electric Power Exchange were sharply down, falling to €385/MWh yesterday, compared to €1010/MWh the day before and €1220/MWh on 11 January.