European gas spot and near curve prices weakened again yesterday, pressured by the drop in Asia JKM prices (-3.30% on the spot, to €78.098/MWh, -1.69% for the November 2021 contract, to €78.763/MWh) and profit taking. Prices on the far curve were more resilient, supported by the rise in parity prices with coal for power generation…
Forecasts of a wind surge in the upcoming hours led the power spot prices to drop in northwestern Europe, Germany as usual observing the heaviest losses due to its large wind turbine installed capacity. The day ahead prices averaged 137.33€/MWh in France, Belgium and the Netherlands, -17.35€/MWh day-on-day and 73.16€/MWh in Germany, -72.82€/MWh. The EUAs…
For a detailed analysis of the Fed’s announcements after its meeting, you can refer to the News sent last night. Unsurprisingly, the process of reducing asset purchases should start in November. Jerome Powell said that it could end by mid-2022. The Fed has insisted that this is not a sign of a subsequent rate hike, but Fed members’ forecasts seem to…
The rebound in European equity markets could continue after Evergrande announced that it had reached an agreement with its creditors on the payment of interest tomorrow on a yuan loan. This seems to confirm that the Chinese authorities will “convince” the domestic creditors to rearrange the repayment terms to avoid a formal default by the property developer.…
The European power spot prices were mixed yesterday, up in France, Belgium and the Netherlands on expectations of weak wind production and strong demand, but up in Germany amid forecasts of slightly higher wind generation with possibly some pressure from the lower clean fuels costs. The day-ahead contracts hence averaged 152.50€/MWh in the four countries,…
