The market is being driven by rising natural gas prices following the extension of maintenance in Norway, the possible closure of a production site in Holland, and recent problematic findings at the Cattenom nuclear power plant.
The power market continued to fall driven by the natural gas market, and reduction in the risk premium linked to nuclear production. French gas stocks are at around 50%, up 2 points in a week. The price of Brent crude rose rapidly.
Despite an improvement in the hydro situation in France after the recent rainfall, the CAL 2024 Baseload price remains above €200/MWh. French gas stocks are at around 44%, up 4 points in a week. The price of Brent crude fell again.