France Energy Pricing Trends - 21 November 2022
21 Nov 2022
France Power Pricing Trends | 21 November 2022
The electricity market fell last week. Nuclear production has improved slightly, with the return of the Chinon 3 reactor to the grid. Despite this, RTE has pessimistically revised the nuclear production forecasts for early 2023. The weekly average price shrank from 434.28 €/MWh to 401.26 €/MWh for CAL 2023 and grew from 273.47 €/MWh to 273.64 €/MWh for CAL 2024.
France Natural Gas Pricing Trends | 21 November 2022
The natural gas market rose slightly last week. Temperatures have so far remained above seasonal norms, delaying the start of the heating period. The level of stocks therefore remains high. Storengy, the main manager of French storage, estimates that the level of stocks would be above 30% at the end of winter if any cold waves that occur are short-lived. Market closed higher on Friday with lower temperatures expected in late November & December 2022. The weekly average price increases from 107.22 €/MWh to 111.62 €/MWh for CAL 2023 and from 91.18 €/MWh to 92.17 €/MWh for CAL 2024.
France Oil Pricing Trends | 21 November 2022
The price of Brent fell sharply last week. The International Energy Agency voiced its opinion that future demand would be dropping far faster and more dramatically than previously expected. The cause: the energy crisis impacting the industrial sector, the rise of the dollar and a Chinese economy running on fumes. The weekly average price of Brent crude oil dropped from 94.34 €/bbl to 88.10 €/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.