France Energy Pricing Trends - 20 March 2023
20 Mar 2023
France Power Pricing Trends | 20 March 2023
Following the price spike observed after the discovery of a significant crack on a pipe used for Penly 1 nuclear reactor, prices on the futures market corrected last week. EDF announced a new maintenance strategy, which awaits approval by the ASN. The strategy would not affect overall nuclear power generation, forecast between 300 TWh and 330 TWh in 2023. The weekly average price increased from 169.66 €/MWh to 176.71 €/MWh for CAL 2024 and decreased from 124.06 /MWh to 124.04 €/MWh for CAL 2025.
France Natural Gas Pricing Trends | 20 March 2023
Mirroring the trend in electricity prices, the natural gas market stabilised last week. In France, several LNG import terminals were still blocked due to industrial action. As a result, French gas stocks decreased more significantly, without much impact on the market given the above seasonal temperatures. The weekly average price grew from 51.03 /MWh to 51.66 €/MWh for CAL 2024 and from 45.86 €/MWh to 42.85 €/MWh for CAL 2025.
France Oil Pricing Trends | 20 March 2023
The price of Brent crude oil fell sharply last week. With the collapse of Silicon Valley Bank in mind, the markets are anticipating an eventual contagion that will impact the economy and bring about a drop in oil demand. Last Thursday, OPEC+ announced production cuts to counteract the fall in prices. The weekly average price of Brent crude oil fell from 78.47 €/bbl to 71.33 €/bbl.
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