France Power Pricing Trends | 20 November 2023
The power market followed the natural gas trend last week. Last Tuesday, the French government outlined the framework for regulating the French electricity market from 2026, reaching an agreement with EDF to "guarantee an average nuclear electricity price of around €70/MWh for all production". Regulation would be based on capturing the nuclear rent above this equilibrium price, according to different thresholds, before redistributing it to consumers. We'll keep you informed as soon as the relevant legislation has been drafted. The weekly average price grew from 118.94 €/MWh to 120.31 €/MWh for CAL 2024 and from 112.52 €/MWh to 115.03 €/MWh for CAL
France Natural Gas Pricing Trends | 20 November 2023
The trend in the market price of natural gas declined last week. On the supply side, US LNG exports are up and the Tamar production site in Israel has resumed operations. Demand for natural gas is easing, given the current reassuring supply-demand balance on the electricity market. European stocks are 99% full. The weekly average price increased from 47.71 €/MWh to 48.02 €/MWh for CAL 2024 and from 43.99 €/MWh to 44.36 €/MWh for CAL 2025.
France Oil Pricing Trends | 20 November 2023
The price of Brent crude fell last week, reaching its lowest level on Thursday since July 2023. US crude oil inventories are high, while market players are worried about weak global demand prospects. The weekly average price of Brent crude oil decreased from 76.22 €/bbl to 74.84 €/bbl.
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