France Energy Pricing Trends - 22 August 2022
22 Aug 2022
France Power Pricing Trends | 22 August 2022
The electricity market has followed the upward trend in gas, coal and CO2 prices. Continued uncertainty about the future availability of French nuclear power plants continues to push prices up. In the German electricity market (interconnected with France), drought and low water levels in rivers such as the Rhine have led to fears of major disruptions in the supply of coal in Germany, pushing prices up further. The weekly average price has risen from 581.17 €/MWh to 682.42 €/MWh for CAL 2023 and from 313.30 €/MWh to 377.13 €/MWh for CAL 2024.
France Natural Gas Pricing Trends | 22 August 2022
Last week, the natural gas market continued to surge. Gas flows from Norway decreased due to the unplanned shutdown of a processing plant. In addition, Gazprom announced at the end of the week that Nord Stream 1 would be shut down for maintenance between 31 August and 2 September 2022, sending shockwaves through the demand side. Indeed, the filling of natural gas stocks is not yet complete (75% of storage capacity filled to date in Europe). The weekly average price increased from 169.42 €/MWh to 204.16 €/MWh for CAL 2023 and from 115.25 €/MWh to 142.74 €/MWh for CAL 2024.
France Oil Pricing Trends | 22 August 2022
The price of Brent crude oil rebounded at the end of last week as the gas crisis in Europe worsened, particularly in the run-up to winter. The weekly average price of Brent crude oil fell from 94.92 €/bbl to 92.90 €/bbl.
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