France Power Pricing Trends | 26 September 2022
The electricity market remained relatively stable last week. There were very few trades of the calendar product 2023. Market participants are still waiting for the publication expected on September 30th of the emergency measures packet the European Commission is planning. Last Thursday, President Macron recommended small business owners, social housing companies and local authorities not sign any energy contracts and wait a few weeks for a possible market correction expected once the European measures come to light. However, we remind our Customers who have not yet subscribed to an electricity contract for 2023 that an ARENH offer must be signed before the second half of October 2022 and that fewer and fewer suppliers are submitting supply offers, sometimes even for their own customers. Nor are we certain of a significant drop in energy prices from next week... The weekly average price has increased from 567.43 €/MWh to 568.41 €/MWh for 2023 but decreased from 271.60 €/MWh to 271 €/MWh for CAL 2024.
France Natural Gas Pricing Trends | 26 September 2022
The natural gas market fell last week, despite some market shocks following Russian-Ukrainian tensions earlier. The arrival of LNG from the United States compensates for the sharp decline in the quantities of Russian gas, the overall European consumption of natural gas has decreased by around 10% in recent days and gas stocks continue to fill up (87% of their total capacity). The weekly average price shrank from 176.69 €/MWh to 171.71 €/MWh for CAL 2023 and from 114.34 €/MWh to 112.44 €/MWh for CAL 2024.
France Oil Pricing Trends | 26 September 2022
The price of Brent fell last week. Fears of an upcoming recession are growing with the deterioration of the conflict between Russia and Ukraine. In addition, as the dollar gets stronger, the price of oil is higher for buyers of foreign currencies, which could lower demand in the future. The weekly average price of Brent crude oil dropped from 92.33 €/bbl to 90.73 €/bbl.
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