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Gas and power prices increased strongly - 17-11-2021

Gas & power made considerable gains yesterday, after the Nord Stream 2 approval process was halted by the German regulator. The operating company will need to certify itself as a company under German law in order to resume the certification process. This cast further doubt as to when Europe will receive higher Russian flow, and is a major setback in the timeline process.

The fact no additional capacity was booked in by GazProm for December, the threats by Belarus to disrupt gas flows to Europe through the Yamal pipline and rising carbon prices as a fallout of COP26 are all factors pushing prices further higher this morning.