Weekly energy market update:
After testing the Dec’21 market peaked on Mon, the power price turned into a bearish correction as the tensions between Russia and Ukraine softened. The weather forecast remains mild and the increasing renewable generation with the strong LNG deliveries to Europe can put further bearish pressure on the power market. That said, if the situation in Ukraine continues to improve, we can see a bearish trend for power based on the technical picture.
As of today, we see the following positive signs for the power market:
- Solid LNG gas send-outs to Europe
- Increasing renewable generation & Mild weather
- The gradually increasing commodity supply
More favorable energy buying opportunities are expected with the end of the current winter season Mar’22 – June’22
To read the prior week’s Energy Market Update, please follow the link here.
