France Energy Pricing Trends - 12 July 2022
12 Jul 2022
France Power Pricing Trends | 12 July 2022
If we look beyond the surge in gas prices, there are still plenty of reasons for the market to fret including a heat wave, the decline in German wind production and the weakness of nuclear production in France. European countries are planning to re-open coalfired plants in order to produce electricity by any means possible. France has a good example in Saint-Avold which had been shut in 31/03/2022. However, a water shortage poses new problems. In Germany, the extremely low level of the Rhine could jeopardise coal shipments. In France, there are fears over the shutdown of nuclear reactors. The weekly average price has slipped from 348.78 €/MWh to 420.22 €/MWh for CAL 2023 and from 202.51 €/MWh to 231.60 €/MWh for CAL 2024.
France Natural Gas Pricing Trends | 12 July 2022
The price of gas continues to soar, borne by the closure for "maintenance" of Nord Stream 1 gas pipeline and Montoir de Bretagne LNG terminal. The Norwegian gas sector, threatening to strike and thus block 60% of gas exports to Europe, have caused prices to jump. In addition, the increase in demand from Asia is driving the price of LNG cargoes and markets in Western Europe. The situation in Europe is therefore extremely tense & the 130 €/MWh mark has been beaten on the French market (PEG). The weekly average price increased from 95.88 €/MWh to 120.66 €/MWh for CAL 2023 and from 63.69 €/MWh to 79.86 €/MWh for CAL 2024.
France Oil Pricing Trends | 12 July 2022
Shortly after Kazakhstan's promise to deliver more oil to Europe, a Russian court ordered the closure of the pipeline terminal that connects Kazakhstan to the Black Sea and Europe. A closure that would only be temporary. However, fears of a recession and the rise of the dollar, which has reached a two-decade high, have caused a significant drop in the price of oil. The weekly average price of Brent crude oil dropped from 108..58 €/bbl to 103.26 €/bbl.
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