Europe & Russia

Electricity demand in northwest Europe is generally expected to soften in May as the market enters the low demand period in the lead-up to summer. Initial forecasts for May suggest some key countries will see above-average temperatures, which are expected to further weigh on consumption following a colder-than-average end to April. Summer spreads in key markets such as the UK remained up on an annual basis, reflecting potential supply tightness and volatile weather patterns.

The UK’s peak power demand is forecast to soften in May, moving...