France Energy Pricing Trends - Feb. 2022
3 Mar 2022
Electricity – EEX Baseload Futures
Prices increased progressively during the first twenty days of February (+20 €/MWh), supported by various announcements from EDF (shutdown of 3 new reactors, reduction of its annual nuclear production target for 2023, increase in controls) and by the Ukraine/Russia tensions which rightly worried market players. As early as February 22, the markets began to react strongly to a very likely Russian attack. On February 24, the day of the Russian invasion, the CAL23 BL had risen 45 €/MWh in 3 days to reach a peak of nearly 210 €/MWh.
Carbon – EUA Futures
The price of carbon peaked at 96.48 €/t on February 8, before reversing the trend following rumors of European Union intervention to combat the rapid rise in carbon prices.
Natural Gas – EEX PEG Futures
The price of carbon peaked at 96.48 €/t on February 8, before reversing the trend following rumors of European Union intervention to combat the rapid rise in carbon prices.
Fuel – London Brent Spot
Prices remained fairly stable, hovering around 92 $/bbl (81 €/bbl), until the start of the last week. Like all raw materials, oil reacted to the invasion of Ukraine. In a context where demand is high and supply at its maximum, concerns are strong about the future of Russian oil (embargo?).
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