France Power Pricing Trends | 7 June 2022
The electricity futures market rose last week. Although nuclear production improved slightly over the same period, hydropower production is sluggish, especially in the southern Alps where a drought has taken hold after a few weeks. France may have to import electricity this summer, an unprecedented situation in this season. Electricity remains at extremely high prices, with the president of the CRE offering to offset this with by increasing ARENH to 130 TWh & 49.50 €/MWh for 2023. This proposal will be widely discussed in the coming weeks. The weekly average price has grown from 303.17 €/MWh to 307.15 €/MWh for CAL 2023 and from 217.52 €/MWh to 217.75 €/MWh for CAL 2024.
France Natural Gas Pricing Trends | 7 June 2022
The price of natural gas rose last week. The imposition of the embargo on Russian oil by the EU has increased tension on the gas market, with market participants fearing a hardening of the Russian-Ukrainian conflict. The weekly average price increased from 70.70 €/MWh to 73.43 €/MWh for CAL 2023 and from 54.02 €/MWh to 54.84 €/MWh for CAL 2024.
France Oil Pricing Trends | 7 June 2022
Brent prices rose last week. The announcement of the embargo on Russian oil has led to this rise in prices, in a climate made more tense by OPEC+ nations having maximized oil extraction already. The weekly average price of Brent crude oil rose from 108.10 €/bbl to 110.61 €/bbl.
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