Gas market is experiencing significant decline since yesterday after V. Putin's words that Russia will increase gas flows into Europe as of 8th November. Slovak power market followed the trend of Czech market. Slovenian market followed trend on other European electricity markets.
Czech Republic & Slovak
Institutional interventions by the Commission into the functioning of the ETS to reduce the price of CO2 have been ruled out this week. The gas market was driven this week especially by the warmer weather when temperatures were significantly above-the-average. Higher renewables electricity production also caused decrease of the demand for gas.
Czech Republic & Slovak
The whole energy mix reacted strongly to statement by Vladimir Putin who asserted that Russia will ensure Europe is well supplied on natural gas this winter. The gas market reacted immediately with electricity and coal following. Brent price was affected marginally, coal market remains very tight as well.
Czech Republic & Slovak
The whole energy mix (coal, gas, oil) had very bullish development in first half of week before a significant correction. Some price easing might be connected with problems with UK-France power interconnector, which means higher power price for UK and more power supply for continental Europe.
Czech Republic & Slovak
The whole energy mix (coal, gas, oil) had very bullish development WoW, especially thanks to significant gas price increase that followed news from Gazprom about export plans into Europe in coming months. Currently it seems that only significant worsening COVID situation and lock downs followed by energy demand decrease can change the current price trajectory.
Czech Republic & Slovak
The energy mix (coal, gas, oil) had bearish development WoW, especially thanks to significant gas correction that occurred. Slovak power market followed the trend of Czech market with the same big volatility. Slovenian market followed trend on other European electricity markets.
Czech Republic & Slovak