2022-10-10 12:50:00
EUROPEAN GAS PRICES DOWN ANEW
BLOOMBERG - Oct 10, 2022 - European natural gas prices slumped to the lowest level in more than three months as imports of liquefied natural gas and warmer-than-expected weather provide some relief to the market.
Benchmark Dutch front-month futures dropped as much as 7.8% to 144 euros per megawatt-hour, the lowest intraday since July 1.
LNG flows to northwest Europe are at their highest seasonal levels since at least 2016, according to data compiled by Bloomberg. Meanwhile, much of the continent is expected to see higher temperatures than previously forecast over the next two weeks, Maxar said in a report.
Those factors may assist European Union officials as they continue to seek ways to alleviate a historic energy crunch. While prices have dropped considerably from August highs, they remain elevated. Governments across the region are putting in place measures to brace for energy shortages this winter, due to curtailed flows of natural gas from Russia.
The EU’s executive arm is preparing several options for how to put a cap on prices. This may include negotiating a corridor for “decent prices” with reliable suppliers, a measure to curb costs within the market overall and a way to limit the influence of gas in electricity prices, Commission President Ursula von der Leyen said on Friday.
-----
Earlier:
2022, September, 30, 09:50:00
EUROPEAN ENERGY DEFICIT
"On the price cap, there is nothing near a consensus," a diplomat from one EU country said.
2022, September, 30, 09:45:00
EUROPEAN ENERGY CRISIS: DEEPER
The 27-nation bloc has already agreed on a voluntary target to cut gas consumption by 15% after Russia, its biggest supplier, cut shipments following the invasion of Ukraine. Still, more action is needed to contain the energy crunch that’s fueling inflation and risks recession.
2022, September, 29, 13:55:00
EUROPEAN GAS PRICES DOWN AGAIN
Benchmark prices declined as much as 6.4%, after rising 19% over the previous two days.
2022, September, 29, 13:50:00
EUROPE NEED ENERGY SECURITY
Despite the fact neither Nord Stream nor Nord Stream 2 were flowing gas to Europe at the time of the incidents, gas prices rose as much as 9% in early trading Sept. 27.
2022, September, 22, 16:30:00
EUROPEAN ENERGY CRISIS PLAN
The European Commission aims to publish Sept. 28 a document detailing future steps to ease volatility and increase trading volume in energy markets after surging prices led to ballooning margin calls
2022, September, 19, 12:55:00
EUROPE: FREEZE TO SAVE
With European energy prices at acute levels, there are huge risks that could destabilise the whole social, economic, and political fabric of Europe.
2022, September, 14, 13:05:00
EUROPEAN ELECTRICITY PRICES RECORDS
So far, in 2022, spot electricity prices are five to ten times higher than in previous years. On August 22, the daily spot market price for Germany exceeded 600 EUR/MWh, 15 times the average of the 2010s.
