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…
While September ended with the biggest decline in the US equity market since March, October starts with a sharp fall in Asia, particularly in Japan, despite a rather good BoJ (Tankan) survey. There is no shortage of cause for concern, as we have detailed here. To sum up, we have gone from “reflation trade” to “stagflation risk”,…
The power spot prices fell in Germany, Belgium and the Netherlands, pressured by forecasts of stronger wind and solar generation, and reached 125.50€/MWh on average, -8.10€/MWh day-on-day. Conversely, the colder weather expected in the upcoming hours supported the French power spot prices which rose by 14.99€/MWh to 165.57€/MWh due to the country’s more temperature sensitive…
European gas prices increased strongly yesterday, still supported by supply concerns. Indeed, although Russian flows rebounded slightly yesterday, averaging 287 mm cm/day, compared to 280 mm cm/day on Tuesday, thanks to the slight rebound in Mallnow flows, they were significantly below the 315 mm cm/day of Monday. Norwegian flows were slightly down, to 337 mm…
