Monthly Outlook Jun-24
Despite a weakening of the electricity market fundamentals, chances for prices to move lower are limited, in wake of logistic costs highly uncertain dynamics and risks for the gas market relating to the global LNG demand-supply close margins.
Monthly Outlook May-24
Gas market balance relies on low European demand, as the recovery of Asian LNG demand and concerns over LNG supply contribute to price volatility. High renewables production and increased imports weigh on the competitive demand for CCGTs.
Monthly Outlook Apr-24
Fundamentals suggest stable gas and power markets in 2024. However, geopolitical issues and LNG supply disruptions pose risks that could spike volatility. Low competitive demand for CCGT gas power plants keeps pressure on the CSS.
Monthly report 4-2024
Supply interruptions from Norway and key US LNG facilities halted the decline in gas prices, despite demand having remain subdued. Abundant hydroelectric production limited electricity prices‘upward potential instead.
Monthly report 3-2024
In the middle of persistent bearish market conditions, in line with our Low scenario, both gas and power markets in Italy lose competitiveness compared to European ones and the pressure on margins increased.
Monthly report 2-2024
Higher gas and power demand failed to fuel an increase in prices, with comfortable storages, stable supply and favourable renewables production having weighed.
Monthly report 1-2024
Year 2023 closed with persisting bearish market conditions, which confirmed the downward trend in both gas and power prices. Weak demand, stable supply and abundant storages weighed.
Monthly report 12-2023
Gas prices kept trending rangebound in November, with ample storages and stable supply limiting upside potential. Strong renewable generation in Italy drove the PUN lower instead.
Monthly report 11-2023
Both gas and power prices moved higher in October due to the combination of demand recovery, emerging Asian LNG demand and weak renewables generation.
Monthly report 10-2023
Both gas and power prices moved higher in September due to the combination of demand recovery, supply constraints in northern Europe and unfavorable renewables generation.