Electricity prices rose gradually this month in reaction to the escalating pace of sanctions on the Russian economy. The limited availability of French nuclear power keeps prices high. Carbon fell sharply at the beginning of the month, and Brent was very volatile during the month of March.
France
Electricity prices increased progressively - supported by various announcements from EDF and by the Ukraine/Russia tensions. Like all raw materials, oil reacted to the invasion of Ukraine in a context where demand is high and supply at its maximum. The price of carbon peaked during the month.
France
After an earlier phase this month marked by a relaxation of prices, the trend has reversed. This follows the announcement confirming, for Penly 1, a defect similar to the Chooz and Civeaux reactors. The crisis between Ukraine and Russia and low levels of gas storage are still weighing on prices.
France
The month of December saw the high-point of unprecedented volatility. In an already extremely tense climate, the market reacted immediately following the announcement of the shutdown of 2 additional nuclear reactors. Prices continued to rise, led this time by electricity, to reach an all-time high.
France
Prices reacted quickly to increases in carbon and natural gas - carbon continued to break all records due to absence of key agreements at COP26 as well as German announcements regarding a no-deal at the European level. Brent was fairly stable up to November 25th when the new Omicron variant was announced.
France
In October the electricity future pricing for 2022 hit another record high while the average CO2 price dropped. At the beginning of the month Cal2022 reached its historic peak of about 462 PLN/ MWh, following record high coal and CO2 prices, which then eased later in the month.
Poland