A lack of natural gas to produce electricity is anticipated. More and more countries are deciding to keep their coal-fired power plants in operation. In France, the stability of the electricity grid for this winter is shaky. Europe fears that Russian natural gas deliveries will continue to falter.
France
Limited production and supply difficulties keep oil prices at high levels. The electricity futures market continued to rise during the week, until a slight easing took place on Friday. Prices followed natural gas and carbon prices. French nuclear production is still low. The price of natural gas rose very sharply last week.
France
A high volume of \wind caused the spot price on electricity to drop this week which affected other fossil fuels - coal, gas, and CO2 also came under pressure this week. Oil prices have gone up slightly.
Germany
Electricity prices have fallen - benefiting from better wind production and reacting to EDF news. The gas market reacted to a drop in deliveries from the US after a fire hit one of the largest LNG plants there. OPEC+ is not meeting the commitments to increase production.
France
A decline in gas deliveries from Russia have increased power prices across the board. The public holidays in Great Britain created an illiquid market situation which impacted trading volume significantly. Oil and coal rose in price due to embargoes and import bans.
Germany
Nuclear production improved slightly - hydropower production is sluggish, especially in the southern Alps where a drought has taken hold. The embargo on Russian oil by the EU has increased tension on the gas market. Oil prices rose last week.
France