France Power Pricing Trends | 20 June 2023
The power market rose sharply last week. The Baseload Cal 24 exceeded €200/MWh again on Thursday, before falling back slightly the following day. The electricity market is being driven by rising natural gas prices, but also by the continuing fears of market players following the recent problematic findings at the Cattenom nuclear power plant. The weekly average price increased from 166.79 €/MWh to 193.05 €/MWh for CAL 2024 and from 128.79 €/MWh to 142.83 €/MWh for CAL 2025.
France Natural Gas Pricing Trends | 20 June 2023
The natural gas market continued to rise last week. The market is tightening up following the extension of maintenance in Norway, as well as the announcement at the beginning of the month of the possible closure of a production site in Holland. Forecasts of very hot weather in Germany point to increased demand for natural gas used in the electricity production process, to meet the high demand for air-conditioning. French gas stocks are at around 58%. At European level, stocks are at 73.66% of capacity. The weekly average price increased from 44.15 €/MWh to 51.58 €/MWh for CAL 2024 and from 41.87 €/MWh to 45.43 €/MWh for CAL 2025.
France Oil Pricing Trends | 20 June 2023
Slight uptrend in Brent crude oil prices last week. According to the IEA, a reduction in oil supply is likely in 2024 following production cuts by OPEC members and Russia, while an increase in Chinese demand for oil is foreseeable. The weekly average price of Brent crude oil decreased from 70.84 €/bbl to 68.81 €/bbl.
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