Czech Energy Pricing Trends - 7 May 2021

CO2 price (Dec-21) increased by 2,15 EUR/t WoW to level 49,94 EUR/t WoW and hit a new fresh historical maximum. Today CO2 was trading around 50,00 EUR/MWh. CO2 continues to test its historical maximums even after the end of the compliance season (30.4.). Brent price (Jul21) increased slightly by 0,04 USD/bbl WoW to 68,09 USD/bbl. Brent price is trading now below 68,00 level. Coal API (Jul1) increased significantly by 5,55 USD/t WoW to 82,1 USD/t, and today is trading around the 82 level.

The electricity market was driven by bullish CO2, increasing gas and coal prices.

Near-curve market (as well as far-curve market) grew significantly WoW. Some analysts mention these three factors:

  1. weather reforecast for May and 1st half of June has decreased expected temperatures from slightly above average to normal ones;
  2. unplanned maintenance at french LNG terminal Montoir throughout the month of May, which can impact LNG imports into Europe scheduled for May; and
  3. growing CO2, oil, and coal (remaining energy mix) driving gas prices up too.

Again colder or average weather temperatures shall follow the warm weather in the coming days. However, mild temperatures later in June means less power demand for air conditioning and possible higher precipitation in coming weeks can mean higher hydro generation - which can decrease demand for gas-to-power generation.

The information above is an excerpt from the applicable report referenced above. For a full and complete copy of this report please complete the form below, sign up for our newsletters or schedule a virtual meeting at your convenience.

Miroslav Ceman

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