Asian power and gas prices continue their rally

Prices increased again yesterday in most European gas markets, still supported by strong demand due to freezing temperatures and relatively weak supply. In Asia, JKM spot prices rose to €79.255/MWh yesterday, +32.17% day-on-day, strongly helped by exceptional spot baseload power prices: €1220/MWh yesterday on the Japan Electric Power Exchange (compared to €1184/MWh on Friday). As a consequence, Asia continues to attract LNG cargoes originally destined to Europe.

On the pipeline supply side in Europe, Russian flows dropped slightly yesterday, at 321 mm cm/day on average, compared to 323 mm cm/day on Friday. Norwegian flows were stable at 334 mm cm/day on average. Algerian flows were up, which exerted a downward pressure on Spain PVB spot prices.

Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

June 23, 2021

Powell drives the point home

His written remark released on Monday had already shown he wanted to mitigate or even erase the effect of the “dots” on the market. His…
January 21, 2022

EUAs posted 4.2% gain on strong auction result

The power spot prices rebounded yesterday in Germany, Belgium and the Netherlands amid forecasts of easing renewable generation, but slightly fade din France on expectations…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter
Thank you for subscribing to our newsletter​

We will get back in touch with you soon.

Don’t forget to follow us on twitter!

EnergyScan - Newsletter subscription

Don’t have an account yet?  Sign up here!