The European power spot prices continued to rise yesterday, supported by high gas prices and forecasts of a wind shortage. The day-ahead prices averaged 255.45€/MWh in Germany, France, Belgium and the Netherlands, +31.25€/MWh day-on-day. The German discount to the French prices reduced to 28.61€/MWh, much lower than the 78.25€/MWh seen Monday of last week. The…
While the fighting in Ukraine is intensifying, financial markets seem to be calming down somewhat. Equity markets trimmed their losses in Europe yesterday, fell little in the US (with the Nasdaq even rising) and rose in Asia. One explanation is the sharp fall in long rates and even more so in real terms, as nominal rates…
The significant drop of wind output over the weekend maintained the European power spot prices above 200€/MWh for today in northwestern Europe and up to 250.95€/MWh in France, despite a the retracement of gas prices on Friday. The day-ahead prices averaged 224.19€/MWh in Germany, France, Belgium and the Netherlands, +18.84€/MWh from Friday and +92.38€/MWh week-on-week. The…
European gas prices dropped significantly on Friday as concerns on a potential drop in Russian flows faded. Indeed, Russian supply increased again on Friday (to 248 mm cm/day, compared to 226 mm cm/day on Thursday) thanks to the rise in flows through Ukraine and the resumption of flows through Poland. At the close, NBP ICE…
As explained in the Daily Eco, the EU and the US have stepped up the pressure on Russia by significantly tightening their sanctions against banks and, above all, the Central Bank. In theory, energy transactions remain largely unaffected, but in practice, customers are turning away from buying Russian Ural and ships no longer dare approach the Black…
