The European power spot prices slightly increased yesterday with support from forecasts of weaker solar production and higher power demand, and firmer clean gas costs. The day-ahead prices averaged 247.41€/MWh in Germany, France, Belgium and the Netherlands, +19.09€/MWh day-on-day. The carbon prices rose by 4% on Monday morning after the European Securities and Markets Authority…
Negotiations resume in Turkey between Ukrainian and Russian representatives with a view to reaching a ceasefire. The Ukrainian counter-offensive on the ground suggests that the balance of power may be shifting, but caution is needed. Similarly, it is difficult to assess the economic consequences of the anti-Covid restrictive measures in China. The prospects for monetary tightening in the…
European gas prices dropped again on Friday, pressured by still-comfortable spot fundamentals, as storages show (they switched to net injection mode since 22 March). In particular, Russian flows were up on Friday, averaging 245 mm cm/day, compared to 236 mm cm/day on Thursday. Norwegian flows were almost stable, averaging 323 mm cm/day, compared to 322…
The weakening French nuclear production, ongoing wind shortage and high gas prices maintained the European power spot prices above 200€/MWh for today. The day-ahead prices indeed averaged 228.32€/MWh in Germany, France, Belgium and the Netherlands, -22.00€/MWh from Friday but +7.06€/MWh week-on-week. The carbon prices traded rangebound in a narrow range in another illiquid session on…
The price of Brent 1st-nearby fell back to around $116b after ending the week at around $120/b. The main reason for this decline comes from China where the rapid spread of the Covid epidemic will lead the authorities to impose containment measures in Shanghai, in order to carry out a large-scale testing of the population. Although these…
