Directional impact on forecast:
Bearish for gas prices
Weak nuclear output and strong power demand have been supporting elevated levels of gas-fired generation and high gas prices in France. The PEG Nord was up to around 59 p/th (€23.5/MWh) this week, its highest level for the season. However, with stronger nuclear output and weaker demand ahead, pressure on prices is expected to be seen.
France’s weak nuclear output caused strong demand for gas-fired generation at the start of the winter. The French nuclear safety authority...