Except in the Netherlands where it edged down, the power spot prices slightly increased in northwestern Europe yesterday with support from higher gas and carbon prices combined with forecasts of high power demand and weaker wind output. The day-ahead prices averaged 233.18€/MWh in Germany, France, Belgium and the Netherlands, +5.22€/MWh day-on-day. The EUAs soared by…
European gas prices increased yesterday, supported by the results of the monthly gas transmission capacity auctions with Gazprom not booking additional capacity into Western Europe. The market ignored the increase in spot pipeline supply, probably worried about the upcoming fall in Norwegian flows. Norwegian flows rebounded to normal yesterday, to 346 mm cm/day on average,…
The EUR/USD exchange rate plunged yesterday after Christine Lagarde reaffirmed her belief that inflation would quickly fall below 2% and that an ECB rate hike was highly unlikely by 2022. From a technical point of view, the next support for the euro is at 1.1290 USD. It is possible that it will be reached before the end of the…
The power spot prices soared near 230€/MWh in northwestern Europe for today, lifted by forecasts of higher demand and weak wind and solar generation. The day-ahead prices averaged 227.96€/MWh in Germany, France, Belgium and the Netherlands, +57.19€/MWh from Friday and +27.55€/MWh week-on-week. The EUAs climbed to a new 5-week high on Friday morning, but quickly…
European gas prices were mixed on Friday, torn between lower Norwegian supply, hopes of higher Russian flows and the additional easing in global coal markets. Norwegian flows dropped to 282 mm cm/day on average on Friday, compared to 301 mm cm/day on Thursday, still impacted by the unplanned outages at the Karsto gas processing plant…
