Europe & Russia

Higher carbon prices in Europe are expected to support power prices in large European markets in the coming weeks. However, higher gas prices mean carbon prices will have to rise further before they trigger significant coal-to-gas switching. Temperatures are forecast to cool in early September although demand in the region is expected to remain broadly in line with seasonal averages following scorching heatwaves in the past few weeks – especially in southern Europe. Forecasts for precipitation are mixed for the coming weeks, with continued dry...