European gas, power and carbon markets are starting Q3 at multi-year highs after a cold winter saw significant gas storage drawdowns amid record CO₂ prices. A reluctance on the part of Russia to send additional gas volumes via Ukraine and strong competition for LNG from Asia has further boosted prices.
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Register NowPower fundamentals are less bullish with improved French nuclear availability and continued wind and solar capacity gains more than offsetting the forecast for a small increase in demand. Heatwaves and a lack of wind power generation remain risks to the upside that could see power prices spike.
Related feature: All eyes on Europe's tight gas market going into Q3
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