France Power Pricing Trends | 4 July 2022
The uncertainty over French production and natural gas supplies from Russia have done nothing to reassure the markets. Calendar prices continue to rise driven by winter products (Q4-2022 and Q1-2023) reaching levels never seen on the markets. The Q4-2022 price quoted on Friday July 1st neared 750 € / MWh on the Baseload and 1490 € / MWh on the Peakload market. The weekly average price has slipped from 313.98 €/MWh to 348.78 €/MWh for CAL 2023 and from 197.53 €/MWh to 202.51 €/MWh for CAL 2024.
France Natural Gas Pricing Trends | 4 July 2022
Russia drastically reduced its deliveries via the Nord Stream 1 gas pipeline with flows contracting by about 60%. This reduction has led to sharp price increases, with markets anticipating a deterioration in the level of storage and winter supplies. The weekly average price increased from 88.86 €/MWh to 95.88 €/MWh for CAL 2023 and from 61.55 €/MWh to 63.69 €/MWh for CAL 2024.
France Oil Pricing Trends | 4 July 2022
Even though prices have decreased over the week, they are higher on average than the past week. Fears over oil persist due to a declining Russian supply and production from OPEC+ countries failing to compensate for the embargo on Russian oil. The weekly average price of Brent crude oil rose from 106.62 €/bbl to 108.58 €/bbl.
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