France Power Pricing Trends | 13 March 2023
The power market rose sharply in the middle of last week. The French Nuclear Safety Authority (ASN) announced the discovery of a deep crack in the piping of the Penly 1 reactor, as well as new cracks in four other reactors. These discoveries will force EDF to review its maintenance schedule in the coming months. A possible decrease in the availability of the nuclear fleet is, as last year, a concern for the futures markets. The weekly average price increased from 163.38 €/MWh to 169.66 €/MWh for CAL 2024 and decreased from 125.88 /MWh to 124.06 €/MWh for CAL 2025.
France Natural Gas Pricing Trends | 13 March 2023
The natural gas market stabilised last week, before rebounding on Friday following market players' concerns about possible future difficulties with the French nuclear fleet. Four LNG terminals were blocked due to social unrest and will not receive LNG until Tuesday 14/03. European natural gas stocks fell slightly (less than 57% of their total capacity). The weekly average price fell from 53.12 €/MWh to 51.03 €/MWh for CAL 2024 and from 45.23 €/MWh to 42.86 €/MWh for CAL 2025.
France Oil Pricing Trends | 13 March 2023
The price of Brent crude oil fell last week. In the US, the FED has issued a warning about the pending risk of recession, as well as its willingness to maintain anti-inflation policies. The weekly average price of Brent crude oil fell from 79.06 €/bbl to 78.47 €/bbl.
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.