Market note, week 43: power prices plunge, Brent jumps

French power 128.37 €/MWh ▼ −29.2%spot, weekly average

French gas (PEG) 91.06 €/MWh ▲ +6.5%spot, weekly average

EU gas storage 74.6 % ▲ +0.1 ptweek on week

Brent 117.38 $/bbl ▲ +6.8%M+1, last price of the week

Electricity

French power (day-ahead spot): between €25.34 and €221.77/MWh depending on the day, €128.37/MWh on average (−29.2% week on week).
Most expensive day: Monday 19; cheapest: Sunday 25.
Generation over the week: nuclear 63.6%, renewables 31.5%, gas 2.9%.

Day-ahead spot, daily average

Latest25.34 €/MWhSunday 25

Average vs prev. week−29.2%128.37 vs 181.25 €/MWh

Daily low25.34 €/MWhSunday 25

Daily high221.77 €/MWhMonday 19

Average128.37 €/MWhweek 43

Sources: RTE, Energy-Charts (Fraunhofer ISE) · See the detail

French gas (PEG, spot): €91.06/MWh on average, against 85.54 the previous week (+6.5%), between €86.31 and €97.46/MWh depending on the day.
European storage: 74.6% full (+0.1 pt in a week), 8.2 pts below last year.
France: 87.2% full.

Spot, average price of each gas day

Latest97.46 €/MWhSunday 25

Average vs prev. week+6.5%91.06 vs 85.54 €/MWh

Daily low86.31 €/MWhTuesday 20

Daily high97.46 €/MWhSunday 25

Average91.06 €/MWhweek 43

Sources: NaTran (Smart), GIE AGSI+ · See the detail

Brent (ICE futures M+1): $117.38 a barrel at the last price of the week (+6.8% on the week), end-of-day prices between $109.18 and $117.38.
US crude inventories −3.1 million barrels, to 412.5 million.
At the pump: diesel €2.374/L (+0.6 cents on the week), SP95-E10 €2.133/L.

ICE futures M+1 (front month)

Latest117.38 $/bFriday 23

On the week+6.8%+7.43 $/b

Daily low109.18 $/bTuesday 20

Daily high117.38 $/bFriday 23

Average111.87 $/bweek 43

Sources: OilPriceAPI (ICE), EIA, French fuel prices (data.economie.gouv.fr) · See the detail