| FM (11-26) |
242,6 €/MWh |
-0,9 % |
▼ |
EEX |
The Hungarian front-month power price rose by more than 8% week on week, primarily driven by high natural gas prices and reduced regional hydropower and nuclear generation. Bid and offer prices were quoted at approximately EUR 239–241/MWh.
German power futures prices declined on Wednesday, following the correction in natural gas prices, after reaching their highest levels in more than three years on Tuesday. Despite the decline, market fundamentals continue to support elevated price levels. Low European gas storage inventories, volatile weather forecasts and low reservoir levels at French hydropower plants remain bullish factors. |
| TTF FM (10-26) |
87,1 €/MWh |
-0,1 % |
▼ |
TTF |
The front-month TTF natural gas contract fell to EUR 85.86/MWh, after reaching EUR 87.44/MWh intraday, its highest level since December 2022. Market participants continue to closely monitor winter weather forecasts. EU gas storage facilities are 73.9% full, the lowest level for this time of year since 2011. A colder winter could lead to further increases in gas prices and potential supply difficulties.
Norwegian pipeline gas flows declined to 335.3 million cubic metres per day. An unplanned outage at the Kårstø gas processing facility reduced available capacity by 12.6 million cubic metres per day.
Oil prices continued to rise on Wednesday after Iran-backed Houthi rebels launched further attacks on facilities in Saudi Arabia.
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