The European power spot prices significantly rose yesterday, lifted by forecasts of falling wind output and below-average temperatures. Prices jumped to 64.32€/MWh (+18.25€/MWh) in Germany, France, Belgium and the Netherlands, while the surging gas prices pushed the clean gas costs back above the clean coal costs. The dropping temperatures strengthened the French power consumption by…
European gas prices increased significantly yesterday, still supported by the strong drop in temperatures. The rise in EUA and coal prices (which increased parity prices with coal for power generation) provided additional bullish pressure, particularly for far curve prices. Prices continued to ignore the easing in Asia JKM spot prices (which fell to €21.805/MWh yesterday,…
At 61 $/b, Brent prompt futures are now at their 7th consecutive positive session, boosted by a weakening dollar and Libyan output unable to ramp-up due to political instabilities. Furthermore, North Sea oil output will fall by 0.13 mb/d in March, based on the provisional lifting schedule, at 1.7 mb/d. After Russia reduced exports to Europe…
The stock markets are on the rise too, but many wonder if that can last long. Commodity prices are surging higher with oil prices now above $60/b (see the Daily Oil). In the US, the debate about the content of the stimulus package is intensifying inside the Democratic party, as risks of overheating are considered…
The forecasts of strong renewable production offset the expectations of higher power demand induced by the falling temperatures and pressured the European power spot prices for today. Prices eroded 5.46€/MWh from Friday to 46.07€/MWh on average in Germany, France, Belgium and the Netherlands. The French power consumption eased to 61.02GW on average on Friday, -2.12GW…
