France Energy Pricing Trends - 24 October 2022
24 Oct 2022
France Power Pricing Trends | 24 October 2022
The electricity market fell slightly last week. Despite a drop in natural gas prices, pressure continues to rise along with delays to the return of nuclear power plants on the French grid. Several announcements and rumors swirled in the last week, such as Bercy's recommendation to maintain the ARENH ceiling at 100 TWh in 2023, or the upcoming announcement of a support mechanism for companies excluded from the existing “cost shield”. The weekly average price dropped from 545.36 €/MWh to 538.06 €/MWh for CAL 2023 and from 283.72 €/MWh to 268.20 €/MWh for CAL 2024.
France Natural Gas Pricing Trends | 24 October 2022
The natural gas market declined last week. Temperatures are above seasonal norms, generating almost zero demand for natural gas from heating. European stocks continue to fill up (93.17% of their capacity). Following last week's meeting of all 27 EU member states, an agreement in principle was approved to lower energy prices, but without details on how to establish this. The discussions are likely to last a further number of weeks to reach an agreement. The weekly average price is reduced from 151.22 €/MWh to 136.64 €/MWh for CAL 2023 and from 118.17 €/MWh to 105.94 €/MWh for CAL 2024.
France Oil Pricing Trends | 24 October 2022
The price of Brent fell last week, before rising again on Friday. Oil inventories in the United States, as well as the continued decline in production by OPEC+ states could cause tension on the supply side in the coming days. The weekly average price of Brent crude oil decreased from 96.40 €/bbl to 94.29 €/bbl.
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