The European power spot prices faded yesterday amid forecasts of improving nuclear availability, a sudden surge of wind and hydro production and decreasing power demand. The day-ahead prices hence averaged 289.05€/MWh in Germany, France, Belgium and the Netherlands, -22.64€/MWh day-on-day. The sharp bullish rally continued on the gas and power forward markets as Germany raised…
Risks of energy shortages came back to the fore on Thursday after Germany triggered the second step of its emergency gas plan with the German economy minister Robert Habeck warning of a potential “Lehman Brother effect” in the energy sector in case of a full cut in Russian gas supply. Rationing of gas for industrial…
On Thursday, oil prices were down. ICE Brent front month moved 1.5% lower to settle at $110.05/b and NYMEX WTI went 1.8% down to settle at $104.27/b. Yesterday was a choppy trading session, oil market did not have a clear trend and moved up and down, between $102.32/b and $/b107.05 for NYMEX WTI. There are growing…
European gas prices increased yesterday, supported by the additional measures taken by Germany to tackle the gas crisis. Indeed, Germany has declared an “alert” notice, the second of the three stages of the emergency plan, which allows suppliers in theory to pass on higher costs to consumers to limit gas demand. Moreover, the country approved…
The European power spot prices reverted yesterday, the French and German day-ahead prices decreasing on forecasts of higher nuclear availability and wind output while prices rebounded in Belgium and the Netherlands amid falling solar production and Belgian nuclear availability. The day-ahead prices hence averaged 311.69€/MWh over the four countries, -2.45€/MWh day-on-day. The decreasing gas flows…
