A gas burner is pictured on a stove in a private house in Bordeaux, southwestern France, December 13, 2012. REUTERS/Regis Duvignau

PARIS, Feb 25 (Reuters) – European power futures fell further on Friday as sanctions on Russia over its invasion of Ukraine have yet to have an immediate impact on energy supplies . Read more

The price drop also came as an industry source said Russia’s Gazprom was set to resume gas supplies through the Yamal-Europe pipeline from Poland to Germany on Friday amid strong demand in Europe, especially from Italy. Read more

As Russian missiles pounded the Ukrainian capital Kiev on Friday, the European Union was preparing a third round of sanctions against Moscow that would further target Russia’s energy and financial sectors, specifying a gradual halt to coal imports from the Donbass region. occupied by Russia. Read more

Some international companies are preparing for further sanctions due to their exposures to Russia. Read more

The Netherlands said Russia’s exclusion from the SWIFT global system of interbank payments should remain on the table, while France said some EU countries had reservations, but the government in Paris did not. was not part of it. Read more

Meanwhile, Poland, which depends on coal for the majority of its electricity supply, has offered to include Russian coal imports in the bloc’s sanctions package.

Europe will need to secure large volumes of gas if it is to avoid soaring prices and crippling energy bills next winter if flows from Russia are disrupted. Read more

Russia’s invasion of Ukraine may lead to a change of course in Germany’s energy transition, Enervis analysts said, adding that continued operation of nuclear power plants and further phase-out slow coal are possible.

“Our forecast shows that with long-term high gas and CO2 prices at current levels, we will see electricity prices remain high,” said Mirko Schlossarczyk, analyst at Enervis.

“Compared to a benchmark in which a gas price drop to 25 euros/MWh by 2030 was assumed, the annual basis in the wholesale electricity market has doubled to approximately 140 to 160 euros/MWh” , he added.

But in the near term, first-month and first-quarter contracts fell broadly in France and Germany in Friday afternoon trading.

German baseload power for delivery in 2023 fell 18.4% to 146.85 euros ($165.13) per megawatt hour (MWh) at 4:42 p.m. GMT, after hitting a contract high of 184.50 euros on Thursday.

The equivalent French power in base for delivery in 2023 fell by 12.1% to 184.50 euros.

European CO2 allowances for the December 2022 expiry rose 0.9% to 87.84 euros per tonne, while hard coal for delivery to Northern Europe in 2023 fell 13.1% to $126 per tonne. tonne.

($1 = 0.8893 euros)

Reporting by Forrest Crellin, additional reporting by Vera Eckert; edited by Jason Neely and Alexander Smith

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