Europe & Russia

Electricity prices in Europe are expected to remain high in the coming weeks compared with the same time last year, despite demand levels generally remaining in line with seasonal averages. Power prices will be supported by renewed strength in oil, gas and coal prices - this will also underpin the price of carbon allowances. Reduced nuclear and wind power generation combined with high temperatures in northwest Europe are adding to the effect of higher fuel costs. Hydropower output is anticipated to remain strong and ease...