Gas prices rise amid unrealized Russia-Ukraine peace deal
Short term:
The Dutch power prices averaged at 79.3 €/MWh last week, which is 2.3 €/MWh lower than the previous week. The temperatures cooled down compared to previous week which decreased the cooling demand and the wind generation increased by about 40% in the Netherlands and Germany. But on the other hand, solar generation fell by roughly 15% and the gas prices rose by 2.3 €/MWh to 33.4 €/MWh. The power prices remained stable due to these diverging fundamentals.
The increase in gas prices could be linked to couple of factors. The Norwegian supply declined due to summer maintenance. Market had expectations of a potential peace deal between Ukraine and Russia during a Trump–Putin meeting. But as Russia continued its attacks without further resolution on that deal, those expectations did not materialize, driving the prices back up.
Electricity (€/MWh)
Gas (€/MWh)
Long term:
The CAL-26 TTF contract rose by 1.6 €/MWh to 32.7 €/MWh, likely following the near-term contracts influenced by geo-political events. The EUA increased by 1.9 €/MWh to 74.5 €/MWh, and Dutch power prices climbed by 3.1 €/MWh to 84.1 €/MWh. The combined rise in gas and carbon prices contributed to the increase in long-term power prices.
Weekly changes
Base (€/MWh)
Peak (€/MWh)
Gas (€/MWh)
CO2 (€/MWh)
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