European energy prices are ending 2021 with another bullish rally: TTF Jan-22 prices are back above the €100/MWh mark, EUA Dec-21 prices are trading at new record highs just below €90/ton and French Cal 2022 power prices are now trading above the €200/MWh level.
Here are five key elements (and associated charts) to understand current market dynamics.
Europe gas stock levels
(AT, BE, BG, CZ, DE, FR, HR, HU, IT, NL, PL, PT, RO, SK, SP, UK)
Western Europe gas demand
GB, FR, NL, DE, BE, ES, IT, PT, AT, CZ, SK
US LNG exports to Europe
(source : KPLER)
Main Asian LNG imports
(source : KPLER)
Technical analysis on EUA Dec-21 prices
(source : Refinitiv)
Baseload year-ahead power prices
France nuclear generation
(source: RTE)
France average power load
(source: ENTSOE)
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