Electricity prices rising slightly. The reasons for this were the currently cold temperatures, high spot prices and the increase in the commodities coal, gas and CO2.
Gas prices rose due to colder temperatures. Other reasons were reduced LNG deliveries to Europe and high Asian LNG prices. The storage levels in Europe are currently at a significantly lower level compared to the previous year.
In the meantime, CO2 prices rose to an all-time high of over 35 €/t. Boost from a generally increasing energy complex, continued positive signals from the financial market, increasing numbers of Covid vaccinations and of course also from the cold weather.
Rising prices for the North Sea quality Brent. One of the main reasons was the surprising announcement of Saudi Arabia that it would cut oil production by 1 million bpd in February and March.
Coal prices stable in the past week but with a tendency to continue to rise. Coal demand rose as a result of the use of new coal-fired power plants, which are again more competitive than gas-fired power plants due to rising gas prices.
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