European Energy Prices Sink As Eu Plans Crisis Intervention

Most Read by Bloomberg German energy for next year fell 20% and Dutch natural gas fell as much as 11%. Both benchmark contracts extended losses from Monday, after hitting record highs last week. Prices have been extremely volatile in recent days amid thin trading and high uncertainty. Russia’s Gazprom PJSC plans to shut down the Nord Stream pipeline to Germany for three days of maintenance starting Wednesday. The European Union is preparing to intervene in the short term to reduce rising electricity costs, which have fueled inflation and raised recession risks. Meanwhile, storage facilities in the region are filling up quickly, bringing some relief and increasing the chances that Europe will get through the winter with plenty of supply. Read: EU hits gas storage target early despite Russian supply cut The European Union’s energy pricing system is no longer working properly and requires changes after Russian President Vladimir Putin turned energy into a weapon, according to Commission President Ursula von der Leyen. “Any action to curb electricity prices will limit the profitability of burning natural gas to generate electricity, which could potentially lead to lower demand for natural gas,” Warren Patterson, head of commodity strategy at ING Groep NV, said in a report on Tuesday. “Given the uncertainty and limited liquidity in the market, prices are likely to trade at high levels with high volatility.” The Spanish government will propose to the EU to implement the same maximum price system it uses, Spanish newspaper El Pais reported. Spain’s top energy official, Teresa Ribera, will make the proposal to disconnect natural gas from the wholesale electricity market at a September 9 meeting with EU energy ministers. Ribera will also propose capping the price paid for CO2 emissions, according to the document. The story continues The EU’s emergency plan to stabilize electricity prices will take weeks to draw up French utility Engie SA said Gazprom would cut supplies from Tuesday “due to a dispute between the parties regarding the implementation of certain contracts”. And a turnaround in LNG flows to Asia is seen as increasingly strong as top importers in Japan and South Korea jump into the spot market to replenish stocks, pushing LNG prices in Asia to another five-month high. Europe competes with Asia for LNG. German power next year closed at 610 euros per megawatt hour, a sharp drop from a record high of 1,050 euros hit in intraday trading on Monday. Quarterly Dutch gas settled 7.2% lower at €253 per megawatt hour. The contract hit record highs last week. Most Read by Bloomberg Businessweek ©2022 Bloomberg LP

title: “European Energy Prices Sink As Eu Plans Crisis Intervention Klmat” ShowToc: true date: “2022-10-27” author: “Jami Lovell”

Most Read by Bloomberg German energy for next year fell 20% and Dutch natural gas fell as much as 11%. Both benchmark contracts extended losses from Monday, after hitting record highs last week. Prices have been extremely volatile in recent days amid thin trading and high uncertainty. Russia’s Gazprom PJSC plans to shut down the Nord Stream pipeline to Germany for three days of maintenance starting Wednesday. The European Union is preparing to intervene in the short term to reduce rising electricity costs, which have fueled inflation and raised recession risks. Meanwhile, storage facilities in the region are filling up quickly, bringing some relief and increasing the chances that Europe will get through the winter with plenty of supply. Read: EU hits gas storage target early despite Russian supply cut The European Union’s energy pricing system is no longer working properly and requires changes after Russian President Vladimir Putin turned energy into a weapon, according to Commission President Ursula von der Leyen. “Any action to curb electricity prices will limit the profitability of burning natural gas to generate electricity, which could potentially lead to lower demand for natural gas,” Warren Patterson, head of commodity strategy at ING Groep NV, said in a report on Tuesday. “Given the uncertainty and limited liquidity in the market, prices are likely to trade at high levels with high volatility.” The Spanish government will propose to the EU to implement the same maximum price system it uses, Spanish newspaper El Pais reported. Spain’s top energy official, Teresa Ribera, will make the proposal to disconnect natural gas from the wholesale electricity market at a September 9 meeting with EU energy ministers. Ribera will also propose capping the price paid for CO2 emissions, according to the document. The story continues The EU’s emergency plan to stabilize electricity prices will take weeks to draw up French utility Engie SA said Gazprom would cut supplies from Tuesday “due to a dispute between the parties regarding the implementation of certain contracts”. And a turnaround in LNG flows to Asia is seen as increasingly strong as top importers in Japan and South Korea jump into the spot market to replenish stocks, pushing LNG prices in Asia to another five-month high. Europe competes with Asia for LNG. German power next year closed at 610 euros per megawatt hour, a sharp drop from a record high of 1,050 euros hit in intraday trading on Monday. Quarterly Dutch gas settled 7.2% lower at €253 per megawatt hour. The contract hit record highs last week. Most Read by Bloomberg Businessweek ©2022 Bloomberg LP

title: “European Energy Prices Sink As Eu Plans Crisis Intervention Klmat” ShowToc: true date: “2022-12-18” author: “Richard Booth”

Most Read by Bloomberg German energy for next year fell 20% and Dutch natural gas fell as much as 11%. Both benchmark contracts extended losses from Monday, after hitting record highs last week. Prices have been extremely volatile in recent days amid thin trading and high uncertainty. Russia’s Gazprom PJSC plans to shut down the Nord Stream pipeline to Germany for three days of maintenance starting Wednesday. The European Union is preparing to intervene in the short term to reduce rising electricity costs, which have fueled inflation and raised recession risks. Meanwhile, storage facilities in the region are filling up quickly, bringing some relief and increasing the chances that Europe will get through the winter with plenty of supply. Read: EU hits gas storage target early despite Russian supply cut The European Union’s energy pricing system is no longer working properly and requires changes after Russian President Vladimir Putin turned energy into a weapon, according to Commission President Ursula von der Leyen. “Any action to curb electricity prices will limit the profitability of burning natural gas to generate electricity, which could potentially lead to lower demand for natural gas,” Warren Patterson, head of commodity strategy at ING Groep NV, said in a report on Tuesday. “Given the uncertainty and limited liquidity in the market, prices are likely to trade at high levels with high volatility.” The Spanish government will propose to the EU to implement the same maximum price system it uses, Spanish newspaper El Pais reported. Spain’s top energy official, Teresa Ribera, will make the proposal to disconnect natural gas from the wholesale electricity market at a September 9 meeting with EU energy ministers. Ribera will also propose capping the price paid for CO2 emissions, according to the document. The story continues The EU’s emergency plan to stabilize electricity prices will take weeks to draw up French utility Engie SA said Gazprom would cut supplies from Tuesday “due to a dispute between the parties regarding the implementation of certain contracts”. And a turnaround in LNG flows to Asia is seen as increasingly strong as top importers in Japan and South Korea jump into the spot market to replenish stocks, pushing LNG prices in Asia to another five-month high. Europe competes with Asia for LNG. German power next year closed at 610 euros per megawatt hour, a sharp drop from a record high of 1,050 euros hit in intraday trading on Monday. Quarterly Dutch gas settled 7.2% lower at €253 per megawatt hour. The contract hit record highs last week. Most Read by Bloomberg Businessweek ©2022 Bloomberg LP

title: “European Energy Prices Sink As Eu Plans Crisis Intervention Klmat” ShowToc: true date: “2022-11-27” author: “Mary Davis”

Most Read by Bloomberg German energy for next year fell 20% and Dutch natural gas fell as much as 11%. Both benchmark contracts extended losses from Monday, after hitting record highs last week. Prices have been extremely volatile in recent days amid thin trading and high uncertainty. Russia’s Gazprom PJSC plans to shut down the Nord Stream pipeline to Germany for three days of maintenance starting Wednesday. The European Union is preparing to intervene in the short term to reduce rising electricity costs, which have fueled inflation and raised recession risks. Meanwhile, storage facilities in the region are filling up quickly, bringing some relief and increasing the chances that Europe will get through the winter with plenty of supply. Read: EU hits gas storage target early despite Russian supply cut The European Union’s energy pricing system is no longer working properly and requires changes after Russian President Vladimir Putin turned energy into a weapon, according to Commission President Ursula von der Leyen. “Any action to curb electricity prices will limit the profitability of burning natural gas to generate electricity, which could potentially lead to lower demand for natural gas,” Warren Patterson, head of commodity strategy at ING Groep NV, said in a report on Tuesday. “Given the uncertainty and limited liquidity in the market, prices are likely to trade at high levels with high volatility.” The Spanish government will propose to the EU to implement the same maximum price system it uses, Spanish newspaper El Pais reported. Spain’s top energy official, Teresa Ribera, will make the proposal to disconnect natural gas from the wholesale electricity market at a September 9 meeting with EU energy ministers. Ribera will also propose capping the price paid for CO2 emissions, according to the document. The story continues The EU’s emergency plan to stabilize electricity prices will take weeks to draw up French utility Engie SA said Gazprom would cut supplies from Tuesday “due to a dispute between the parties regarding the implementation of certain contracts”. And a turnaround in LNG flows to Asia is seen as increasingly strong as top importers in Japan and South Korea jump into the spot market to replenish stocks, pushing LNG prices in Asia to another five-month high. Europe competes with Asia for LNG. German power next year closed at 610 euros per megawatt hour, a sharp drop from a record high of 1,050 euros hit in intraday trading on Monday. Quarterly Dutch gas settled 7.2% lower at €253 per megawatt hour. The contract hit record highs last week. Most Read by Bloomberg Businessweek ©2022 Bloomberg LP