Power prices were buoyed by the bullish fuel complex amid coming Russian oil ban and anticipation of military escalation
Yesterday marked another day of particularly flat European power spot prices with the ongoing wind shortage being offset by slightly higher French nuclear availability and…
After a very volatile session (see our news), European gas prices closed lower yesterday, in line with the sharp drop in coal parity prices. Asia JKM prices on their side closed in a mixed way: +42.35%, to €165.665/MWh, on the spot; -8.76%, to €115.111/MWh, for the December 2021 contract. Norwegian flows were almost stable, averaging 335 mm cm/day, compared to 334 mm cm/day on Tuesday.
At the close, NBP ICE November 2021 prices dropped by 20.460 p/th day-on-day (-6.96%), to 273.450 p/th. TTF ICE November 2021 prices were down by €7.83 (-6.75%) at the close, to €108.191/MWh. On the far curve, TTF Cal 2022 prices were down by €7.03 (-10.69%), closing at €58.751/MWh, but widening again the spread against the coal parity price (€38.038/MWh, -17.04%).
TTF ICE November 2021 prices are down again this morning, even falling below the 5-day Low, a situation which could lead some financial participants to initiate buying positions. However, as prices are still in overbought territory according to more traditional technical standards, a drop below the 20-day High cannot be excluded.