France Energy Pricing Trends - 6 March 2023

France Power Pricing Trends | 6 March 2023

The electricity market declined last week, following the same trend as the natural gas market. With domestic production low in recent days, France has largely imported electricity from its neighbours to meet the increased demand due to low temperatures. In the longer term, France confirms its desire to develop nuclear energy. Last Thursday, Parliament voted to remove the 50% cap on the share of nuclear power in the electricity generation mix. In addition, France and ten other EU countries have declared their joint desire to strengthen their cooperation on nuclear energy. The weekly average price decreased from 174.16 €/MWh to 163.38 €/MWh for CAL 2024 and from 129.60 /MWh to 125.88 €/MWh for CAL 2025.

France Natural Gas Pricing Trends | 6 March 2023

The natural gas market declined last week. Supply largely met the high demand for natural gas during this cold period. Norway increased its gas flows to Europe. The resumption of US LNG exports via Freeport is reassuring market participants. Gas stocks are high for the season (around 60% at European level). The weekly average price fell from 55.99 €/MWh to 53.12 €/MWh for CAL 2024 and from 47.25 €/MWh to 45.23 €/MWh for CAL 2025.

France Oil Pricing Trends | 6 March 2023

The price of Brent crude oil rose last week. The reason for this is the increased demand for oil from the recovering Chinese industrial sector. The weekly average price of Brent crude oil grew from 77.38 €/bbl to 79.06 €/bbl.

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