The warming temperatures and soaring wind output continued to pressure the European power spot prices yesterday which fell to 48.84€/MWh on average in Germany, France, Belgium and the Netherlands, -5.90€/MWh dod. The temperatures rose to nearly 6°C above normal in France yesterday, hence dampening the country’s power consumption by 7.12GW to 65.78GW. The nuclear generation…
Prices rebounded yesterday in most European gas markets, supported by new weather forecasts pointing to below-average temperatures in February. To the exception of Spain PVB and Italy PSV prices, European prices ignored the additional easing of Asian prices. Indeed, system baseload spot power prices on the Japan Electric Power Exchange for delivery today dropped to €64/MWh,…
Brent prompt month contract remained range-bound at 55.5 $/b as the dollar remained supported despite a significant unexpected change in the US macroeconomic indicators. Time spreads edged higher this week, with the front spread reaching 40 cents. This has consequences in terms of inventory release and market positioning but has adverse consequences for refiners. Share…
First estimates of national accounts in Q4 point to resilient activity or much more resilient than feared. Q1 should be very different, in Europe at least. Financial markets are still very volatile, although the VIX fell back towards 30. The “war” between retail traders ad Hedge Funds looks far from being over. It has undergone…
The European power spot prices slightly faded yesterday amid forecasts of higher temperatures dampening the demand, but managed to remain above both clean gas and coal costs. Prices hence eased by 2.50€/MWh from Tuesday in Germany, France, Belgium and the Netherlands to reach 54.74€/MWh on average. The milder temperatures curbed the French power consumption on…
