France Power Pricing Trends | 14 June 2022
The electricity futures market fell slightly last week, benefiting from better wind production at the beginning of the week. Prices reacted on Wednesday to EDF's announcement on the postponement of the shutdown of nuclear power plants that was initially planned for early 2023. These postponements increase the production forecast for February and March 2023, welcome news amid fears of a supply shortage during this period. The weekly average price has slipped from 307.85 €/MWh to 307.38 €/MWh for CAL 2023 and from 217.15 €/MWh to 215.14 €/MWh for CAL 2024.
France Natural Gas Pricing Trends | 14 June 2022
Last week, the market reacted to the fire that hit one of the largest LNG plants in the United States, leading to lower deliveries to Europe. With the EU relying on the United States in order to overcome its dependence on Russian gas, it came as no surprise when CAL 23 increased by 6% on June 9. The weekly average price increased from 73.43 €/MWh to 73.87 €/MWh for CAL 2023 and from 54.84 €/MWh to 58.59 €/MWh for CAL 2024.
France Oil Pricing Trends | 14 June 2022
OPEC+ isn’t meeting commitments to increase production to offset the loss of Russian oil imports to Europe. Some of the member countries do seem to have reached their maximum production capacity. The weekly average price of Brent crude oil rose from 110.61 €/bbl to 113.98 €/bbl.
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