EnergyScan

European prices fell slightly

European gas prices weakened overall yesterday, as the easing of the tension on Asian markets exerted downward pressure. Indeed, JKM spot prices weakened again yesterday, to €41.570/MWh, -10.70% day-on-day. On the Japan Electric Power Exchange, spot power prices for delivery today eased to €500/MWh, down from €618/MWh for delivery on Wednesday.

On the pipeline supply side, Russian flows were almost stable yesterday, at 318 mm cm/day on average, compared to 317 mm cm/day on Tuesday, still significantly below the 371 mm cm/day on average of December 2020. Norwegian flows were slightly down, averaging 339 mm cm/day, compared to 342 mm cm/day on Tuesday.

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