European Power Prices Slide as Milder Weather Set to Ease Demand
(Bloomberg) -- Power prices fell across Europe as forecasts for milder weather signaled lower demand.
Contracts for February delivery in France, Germany and the Nordic region dropped as meteorologists updated their longer-term outlooks to show higher temperatures. German year-ahead electricity also declined.
EUROPE WEATHER: Maxar Raises Temperature Forecast for Next Week
Prices are still more than five times higher than usual for this time of year, as natural gas prices continue to soar and traders price in the possibility of a cold snap in the months to come. While electricity contracts in France have fallen from record levels, they're particularly vulnerable to freezing weather.
German power for February slid 2% to 265.50 euros a megawatt-hour on EEX, while the French equivalent dropped 4.9% to 411 euros. The Nordic contract fell 1.7% to 98.15 euros on Nasdaq Commodities ASA. German year-ahead power, a European benchmark, declined 1.3% to 138 euros.
Day-ahead prices rose across the board as wind output is set to drop sharply tomorrow. That will mean more high-priced gas is needed for power generation.
©2022 Bloomberg L.P.
-
India's Troika Of Good Luck | Joining The Dots
A weaker Trump, a cooling AI trade and resilient earnings have put Indian markets back in favour. Rising inflation could spoil the party.
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
