March saw the successful delivery of Volue’s latest Market Expert View webinars. Held over two days, attendees received a fuels updates, before hearing about activity in the Nordic region and an outlook for the wider European Market. For those unable to attend, we’ve provided an overview of some of the key talking points below.
Apr 19, 2023
This year has seen significant changes in the European power balance compared to 2022. One of the most noticeable changes is the decline in consumption and performance in nuclear power production in recent months. The downward trend in thermal production from sources like lignite, coal, and gas is also expected to continue at full speed throughout the rest of the year. This is due to the strong reduction in consumption, as well as a significant increase in wind and solar production.
Tor Reier Lilleholt, Head of Analysis, Volue
We expect emissions in the EU ETS market to fall considerably in 2023. This is largely due to the persistent decline in power consumption, which has reduced the reliance on thermal power sources. We also identify the possibility of higher gas shares in thermal power than earlier envisioned. As a result of these factors, we predict that CO2 prices will gradually decline over the course of the year.
Espen Andreassen, Senior Analyst, Volue.
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