The European power spot prices continued to fade yesterday amid forecasts of milder and windier weather. Prices hence eroded 5.05€/MWh to 38.89€/MWh in France, Germany, Belgium and the Netherlands while clean gas costs lingering 3.13€/MWh above the clean coal costs at 53.83€/MWh. The French power consumption eased by 4.02GW to 69.53GW on average as temperatures…
European gas prices weakened overall yesterday, as the easing of the tension on Asian markets exerted downward pressure. Indeed, JKM spot prices weakened again yesterday, to €41.570/MWh, -10.70% day-on-day. On the Japan Electric Power Exchange, spot power prices for delivery today eased to €500/MWh, down from €618/MWh for delivery on Wednesday. On the pipeline supply…
Brent futures weakened on Wednesday, to reach 55.8 $/b for the prompt contract after surprise builds across all US inventories, reported by the API survey. The official data is due on Friday. President Biden advanced on several key climate policies as of yesterday with the US re-joining the Paris Agreement, while at the same time imposing…
On his first day as president, Mr. Biden signed a series of executive orders unwinding the most controversial aspects of the previous administration’s policy. Financial markets’ optimism was nevertheless rather fueled by recovery hopes linked to the big stimulus package Mr. Biden expects to be approved by the Congress as soon as possible. The EUR/USD…
The European power spot prices continued to drop yesterday on expectations of stronger renewable production and weaker demand. Prices in Germany, France, Belgium and the Netherlands hence fell to 43.94€/MWh on average, nearly 10€/MWh below the clean gas costs. Despite the higher temperatures, the French power consumption slightly rose on Tuesday to reach 73.56GW on…
