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Prices down in most European markets – EnergyScan

Prices down in most European markets

Prices were lower yesterday in most European gas markets, as above-normal temperatures and the easing of the tension in Asian markets exerted downward pressure. Indeed, JKM spot prices weakened again yesterday, to €36.474/MWh, -12.26% day-on-day. On the Japan Electric Power Exchange, system spot power prices for delivery today eased to €231/MWh, down from €500/MWh for delivery on Thursday.

On the pipeline supply side, Russian flows were stable yesterday, at 318 mm cm/day on average, still significantly below the 371 mm cm/day on average of December 2020. By contrast, Norwegian flows were lower, averaging 334 mm cm/day, compared to 339 mm cm/day on Wednesday, on the back of maintenance at the Asgard gas field.

Elsewhere, note that, in a resolution approved yesterday, the European Parliament has again called for the Nord Stream 2 gas pipeline project to be halted, this time in light of the arrest in Moscow of Russian opposition politician Alexei Navalny.

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