The European power spot prices surged above 180€/MWh yesterday, driven up by the sky-rocketing gas prices, higher EUAs, and the forecasts of stronger demand and dropping renewable generation for the upcoming hours. The day-ahead prices averaged 182.54€/MWh in Germany, France, Belgium and the Netherlands, +22.81€/MWh day-on-day. The spiking gas prompt prices buoyed the carbon market…
Yesterday’s sharp rebound in equity markets should quickly come up against the wall of interest rates: the US 10-year yield rose above 1.57% this morning, its highest level since June. Inflation expectations are simmering. The 10-year break-even inflation rate in the UK is above 4% for the first time since 2008. Asian markets have already turned…
Despite a rather weak expiry, expectations of demand were boosted on the December 2021 ICE Brent contract by comments from the Chinese government starting to acknowledge the depth of the energy crisis in China. Energy supplies must now be secured at all costs according to the energy and industrial sector supervisor. Internal OPEC sources said that…
The power spot prices dropped yesterday in northwestern Europe, pressured by forecasts of strong wind and solar generation, higher French nuclear availability and slightly weaker demand. The day-ahead prices hence fell to an average of 114.75€/MWh in Germany, France, Belgium and the Netherlands, -20.77€/t day-on-day with only the French prices remaining above the clean coal…
European gas prices increased again strongly yesterday, taking support from the fact that during daily auctions Gazprom has not booked any transportation capacity at the Mallnow entry point for today, which opens the prospect of a drop in Russian flows (which averaged 288 mm cm/day yesterday, compared to 287 mm cm/day on Wednesday). The additional…
