Commodity Market Report
Europe gas and power markets short-term outlook Q1 2019
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Coal-to-gas switching levels become the key feature of European gas price setting through 2019 and 2020. With the level of Russian flows into Europe remaining a risk to the outlook. The strategy employed by Russia could look very different between 2019 and 2020 taking account of the new pipeline routes of Nord Stream 2, TurkStream and TAP which will all commission in late-2019. These new routes will reshape European gas flows and the cost of Ukraine transit in 2020 will not become clear until May 2019 at the earliest.
Table of contents
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Introduction
- European gas fundamentals
- Gas market balance
- Power prices
Tables and charts
This report includes the following images and tables:
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Storage inventoriesRussia importsGas prices
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UK baseload power prices (nominal)Europe baseload power prices (nominal)Clean spreads (baseload) - UK (nominal)Emissions prices: ETS EUA & GB CPF UpliftedGermany baseload power prices (nominal)Clean spreads (baseload) - Germany (nominal)Key market data
What's included
This report contains:
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