NWE spot baseload power prices increased yesterday, to €138.172/MWh on average for today delivery (compared to €132.480/MWh for Thursday), supported by forecasts of lower wind generation (4053 MW for today in Germany, compared to 6240 MW yesterday), in a context of higher clean fuel costs. EUA Dec’21 prices maintained their uptrend and closed at €62.75/t…
European gas prices extended gains yesterday, still supported by concerns on weak supply and low stock levels. Russian flows were slightly up, averaging 297 mm cm/day (compared to 296 mm cm/day on Wednesday), but still below the levels of end August (313 mm cm/day). As expected, Norwegian flows rebounded, to 284 mm cm/day on average,…
The price of crude oil continues to be quite volatile without finding a real trend: yesterday it exceeded $73/b before dipping below $71/b and then rising to $72/b. Prices took a temporary dip after China announced that it had drawn (for the first time) on its strategic reserves to calm the price rise. This announcement probably refers…
The ECB has done pretty much what was expected of it, judging by the small drop in bond yields and the stability of the euro that followed its announcements (EUR/USD @ 1.1830). It will start to reduce the additional purchases of securities decided in March, after having revised its growth and inflation forecasts upwards, but remains very…
Expectations of stronger power demand and weaker French nuclear availability combined with higher fuels and carbon prices drove the European power spot prices above 130€/MWh yesterday. The day-ahead contracts reached 132.48€/MWh on average in Germany, France, Belgium and the Netherlands, +7.76€/MWh day-on-day despite the forecasts of slightly stronger wind and solar production for today. After…
