Putin says Russia will enforce rouble payments for gas from Friday

Dave said:
A lot of it nothing to do with the RuSSian invasion.


www.bbc.co.uk

EDF: French energy giant posts worst-ever results

The €17.9bn (£16bn) loss is being blamed on capped prices as well as repairs to power stations.
www.bbc.co.uk www.bbc.co.uk

A price cap on energy for French consumers hit EDF profits hard but so did the enforced closure of many of its of nuclear power stations for repairs.

EDF's nuclear output in France fell by 30% to its lowest since 1988 as more than half of its 56 ageing nuclear power stations went offline for repairs, which had been delayed because of the Covid-19 pandemic. France has the biggest fleet of nuclear plants in Europe.

The outages meant that France became a net importer of electricity for the first time in decades.

EDF's financial woes have various causes, but another major factor is an obligation it has to sell a quarter of its production at a fixed price to its competitors.

The system known as Arenh (Regulated Access to Historic Nuclear Electricity) was devised in 2010 in order to satisfy the EU, which was worried about EDF - with its massive nuclear capacity - becoming a monopoly provider.

It meant the French electricity market was able to open up to competition, but EDF says it has forced the company into the absurd situation of subsidising its competitors.

In 2022 things became "surreal" in the words of one former CEO. Because of the soaring cost of electricity on the European market, EDF's own generating capacity hit by technical problems, and with the government extending the low price guarantee to customers - EDF was having to buy in electricity at €100 a unit, and sell it to rivals at €46.
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Lol yeah sure buddy. I read the first sentence of this bs and am not going to bother.
 
wingnut771 said:
Isn't that called inflation?
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Yes no great impact on gas prices. I means Russia has sufficiently moved to other markets and prices has stabilized.

Also since winter is almost over there should be less demand now
 
Natural gas prices in Europe kicked off March below €48 per megawatt, following an 18.6% slump in February, which closed the three months of declines, the longest such streak since 2020. Below-normal temperatures are expected early this month across much of the continent. However, winter in Europe has been mild so far, and storage is about 62% full, above the 10-year average of 54% for this time of the year, thanks to record LNG imports (with the US accounting for approximately two-thirds of the incremental LNG inflows into Europe), a rise in power generation from alternative energy sources and a 13% cut in consumption. Still, the energy crisis in Europe is not over, and the continent needs to prepare for next winter. For now, the fall in prices could boost demand in the industrial and power sectors, and a pick-up in demand from China could raise competition for liquefied natural gas. Gas demand from China fell 1%, and the country's net LNG imports dropped 21% in 2022.
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https://tradingeconomics.com/commodity/eu-natural-gas

So without US fracking, Europe would have been absolutely fuuked. Nice green agenda lads.
 
BBSA said:
Yes, the war does have an negative influence on energy prices. It is not just hurting Europeans but most nations, so it would be nice if Putin can stop his nonsense.
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I will absolutely say that Putin should stop.

I'm also trying to point out that Europe is still paying way more for gas now than pre-COVID. Those LNG imports do not come cheaply.
 
How are those oil price caps going?

www.dailymaverick.co.za

Business Maverick: Russian oil gets more pricey as pool of Asian buyers expands

The price of Russian crude and fuel is rising for buyers in Asia as a pool of bigger customers from China and India expands, putting pressure on smaller refiners that have eagerly consumed the cheap oil.
www.dailymaverick.co.za www.dailymaverick.co.za

More importers are comfortable with methods to reduce their risk exposure by asking sellers to handle shipping and insurance, on top of using non-western banks and making payments in yuan, rupees, dirhams or rubles. This approach has given buyers more confidence to maintain and even increase flows without too much worry about their compliance to the $60-a-barrel price cap that exempts shipments from European sanctions, traders said.
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