Sharp price rise

European spot gas prices increased sharply yesterday on tighter supply while the strong rise in temperatures is expected to stimulate air conditioning demand. The increase was particularly strong for Zeebrugge prices (+7.25% day-on-day), which are the most affected by the closure of the Interconnector pipeline for annual maintenance. Otherwise, Norwegian flows rebounded yesterday to 284 mm cm/day on average, compared to 280 mm cm/day on Monday. As for Russian flows, they were lower, averaging 317 mm cm/day, compared to 322 mm cm/day on Monday.

Curve prices were also higher as the rise in Asia JKM prices and in parity prices with coal for power generation (thanks to higher EUA prices) lent them support.

Sharp price rise
Share this news :

You might also read :

November 9, 2021

Prices up as Russian supply disappointed

European gas prices increased yesterday as the hopes of an increase in Russian flows have been dashed. Indeed, Gazprom did not book extra transportation capacity…
November 3, 2021

EUAs erased Monday’s losses

The European power spot prices slightly faded yesterday, possibly weighted by the rising French nuclear availability and hydro generation offsetting the forecasts of lower wind…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet?