The pricing of the PPA and Green Gas markets pull back
The pricing of the PPA and Green Gas markets pulled back slightly this morning after some strong trading sessions over the last few days.
- Green Gas is down 1.5%.
- PPA markets are down around 2%.
We continue to see below-seasonal normal temperatures across Northern Europe. However, the Copernicus winter forecast released Monday predicts “a probability of at least 60% of above-average temperatures between December and February.”
Gas traders have been closely monitoring longer-term forecasts around year-end, when a transit agreement between Russia and Ukraine will expire.
From a technical trading perspective, both the gas and power markets were in “overbought” territory, so we could attribute some of the recent downward correction to “profit taking” by speculative trading houses.
Wind generation remains relatively low, but European power imports are high.
If you would like to discuss this further, please call the desk :
01962 807060
Or drop Fran or me an email: Francesca.reay@newstreamrenewables.com
Fran Reay
Analyst
Jamie Banks
PPA Manager at New Stream
Jamie.banks@newstreamrenewables.com
