Friday, 31 December 2021
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Author: Addison L.D. Wu
The prevailing forecast of milder weather across the continent is expected to cut demand at the start of the year; meanwhile, the benchmark gas prices continue to fall. The day-ahead prices for most European markets have plummeted around 70% in the last ten days. German power contract price for January has slumped over 25% this week.
The prices have continued to plummet after the Christmas holiday in the German power market , Europe’s largest power market, has witnessed the plummet of the forward contracts for the coming month, quarter, and year. In addition the day-ahead system price in the Nord Pool has dropped around 80% to 64.4 Euro/MWh in the last ten days of December.
Earlier low gas storage level and ¼...