The European power spot prices edged down yesterday amid forecast of slightly stronger renewable production and mixed temperatures. Prices waned by 0.77€/MWh in France, Germany, Belgium and the Netherlands to 51.52€/MWh on average. Lower temperatures strengthened the French power consumption which rose by 1.93GW from Wednesday to 63.14GW on average. The nuclear generation increased as…
Brent prompt future contract approached 60 $/b on Tuesday, as Saudi OSPs unveiled the bullish Saudi outlook on prices while holding premiums to Asian customers constant. ARA oil product stocks showed widespread builds, with gasoline and gasoil stocks surging respectively by more than 5% an 3%. Looking at Asian stocks, Gasoline diesel and fuel oil…
European gas prices rebounded slightly yesterday as the bullish impact of higher EUA and coal prices (which increased parity prices with coal for power generation) prevailed over the bearish impact of (current) mild weather and weaker Asian prices. Indeed, JKM spot prices extended losses, falling to €23.106/MWh yesterday, -5.24% day-on-day. On the pipeline supply side,…
The EUR/USD has fallen below 1.20. The USD is strong, but the euro is weakening vs other currencies as well, the main reason being the slow start in the vaccination campaigns that cloud recovery prospects. While markets focus on the timing and the extent of the economic rebound in the US and the UK, they…
The power spot prices rebounded yesterday in Northwestern Europe amid forecasts of weaker renewable production and lower temperatures. Prices averaged 52.29€/MWh in Germany, France, Belgium and the Netherlands, +8.47€/MWh day-on-day. Despite weaker coal and stronger gas prices, the spiking emissions prices pushed the clean coal costs nearly 2.50€/MWh above the clean gas costs. The French…
