Gas and power
Overview
Gas and power, two integral energy sources that underpin all major economic activities, are critical for businesses, which need access to reliable market information, data and prices. This enables them to make more informed decisions relating to their exposure to gas and power sectors.
Our team of market experts provides independent and reliable price assessments, indexes, market data and in-depth analysis. Our prices and market intelligence are used by energy companies, governments, banks, regulators, exchanges and many other organisations. You can benefit from our in-depth knowledge of these markets for better decision-making.
Gas and power market coverage
Argus is a leading independent provider of market intelligence to the global energy and commodity markets. Our price assessments and market intelligence are available for all major gas and power markets across the globe. Explore our coverage most relevant to your business.
Latest gas and power news
Browse the latest market-moving news on the global gas and power industry.
Range sees 6pc gain in realized 3Q NGL pricing
Range sees 6pc gain in realized 3Q NGL pricing
Houston, 23 October (Argus) — Marcellus gas producer Range Resources received a 6pc higher premium versus Mont Belvieu, Texas, on its natural gas liquids (NGL) production in the third quarter owing to its access to markets in Europe and Asia. The Fort Worth, Texas, based producer received on average $25.96/bl for its NGLs, excluding derivatives, up 6pc versus last year. That exceeded average NGL prices at Mont Belvieu, Texas, by $4.10/bl. "Our ability to market ethane propane and butane into the international markets drove the highest NGL premium in company history, at over $4/bl over the Mont Belvieu index," said chief executive Dennis Degner. Range reported its natural gas liquids (NGL) production rose 5pc year over year to 10.2mn bl, or 111,465 b/d, in the third quarter as its gas production rose by 4pc to 1.5 bcf/d. Range updated its full-year guidance on its NGL pricing to Mont Belvieu plus $2.10-$2.35/bl, up from the 75¢/bl to $1.50/bl estimated in the second quarter, owing to gains in propane and butane prices at Mont Belvieu, Texas and higher spot premiums for exported cargoes out of the US. Range's average NGL estimates assumes 53pc of its production is ethane, 27pc propane, and 8pc normal butane. Mont Belvieu, Texas, LST propane averaged 72.9¢/USG in the third quarter, higher than the average of 68.9¢/USG in the third quarter of 2023. Mont Belvieu butane prices averaged 97.25¢/USG in the third quarter, up versus 83.47¢/USG last year. Range credited its term commitments on Energy Transfer's Mariner East system, which pipes NGLs from Range and other Marcellus producers to its export facility at Marcus Hook, Pennsylvania, with its higher realized prices on NGLs, particularly propane and butane, given higher netbacks from Europe and Asia. "International demand and pricing for NGLs remained robust in the third quarter, leading to near maximum US export capacity utilization," Degner said. "Improving Panama Canal throughput access, and a growing global fleet of LPG ships improved waterborne freight rates, and these factors combined to drive export price premiums to new levels relative to the Mont Belvieu index, and Range's portfolio of transportation and sales contracts provided reliable access to these premium markets." Argus-assessed prices for spot propane cargoes on a fob basis rose above Mont Belvieu +30¢/USG in mid-September, a multi-year high. Degner noted higher premiums on spot cargoes are expected to remain until US Gulf coast terminals expand capacity there in late 2025. By Amy Strahan Netback to Northwest Europe vs Mont Belvieu $/t Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
EU Parliament sets out Cop 29 position
EU Parliament sets out Cop 29 position
Brussels, 22 October (Argus) — The European Parliament's environment committee has voted through a draft resolution urging countries to agree on a new collective goal for climate finance at the UN Cop 29 climate conference in Baku, Azerbaijan, in November. Parliament's text calls for "innovative" sources of finance, similar to language used earlier this month by EU ministers when agreeing a general negotiating mandate for the summit. And the responsibility for delivering on the new collective quantified goal (NCQG) for post-2025 should encompass a "broadened contributor base reflecting parties' evolving financial capabilities and historical emission levels", parliament said. Parliament "insists" that emerging economies with high emissions and high GDP should contribute to the new goal, which is designed to be a successor to developed countries' existing commitment to providing $100bn/yr in climate finance over 2020-25. The draft resolution also notes that the NCQG should clearly prioritise "grants-based finance", be socially fair and aligned with the polluter-pays principle, and ensure that the costs of climate change are borne by those with the greatest capacities. Parliament points to "potential financial contributions from the fossil fuel supply chain". Cop 29 should also co-ordinate for an unambiguous signal on transitioning away from fossil fuels. And the resolution contains a call for the European Commission to work on expanding the scope of the bloc's carbon border adjustment mechanism (CBAM) to more sectors, as well as encouraging the introduction of global carbon pricing. While non-binding, parliament would have to approve any international treaty and detailed climate and energy legislation to achieve greenhouse gas emissions cuts. The resolution received a large cross-party majority in committee, indicating a smoother passage in parliament's plenary vote on the matter next month. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Industry power growth in France below hopes
Industry power growth in France below hopes
London, 22 October (Argus) — French industrial power consumption growth in recent years has been below the government's expectations, according to junior energy minister Olga Givernet. France has a target to cut by half its greenhouse gas emissions from the industrial sector by 2030. The electrification of industrial processes that formerly used fossil fuels is one of the main levers the government plans to use to reach its target, implying that power demand should increase in the coming years. But demand in the sector has not picked up, Givernet told Argus at the launch of the government's energy sobriety campaign in Paris on 21 October, with existing industry being dependent on fossil fuels for heat in particular. Electricity consumption — across the residential, tertiary and industrial sectors — has fallen sharply since 2022 because of what the government described as a mix of price effects and voluntary sobriety efforts by households and businesses. And consumption on the high-voltage network — mostly from large industrial sites linked directly to the transmission network — has held roughly flat since moving down in mid-2022 ( see demand graph ). These reductions have enabled the power system to regain margins that could accommodate demand growth, particularly if this is flexible, according to transmission system operator (TSO) RTE. Flexible growth could enable the country to soak up otherwise unusable electricity produced in periods of high renewables output. France on 20 October curtailed 15GWh of zero-carbon electricity, including solar energy, because of a lack of demand, the TSO said ( see solar and wind graph ). While the government cited a "dependency" on fossil fuels as the reason for the lack of a jump in power consumption, poor industrial performance could be another cause. Manufacturing production has stagnated in recent years, with output hovering at 100-103pc of the 2021 average so far this year. And output in energy-intensive sectors is far lower than three years ago. The paper, chemicals, glass and steel sectors have seen their production fall to 75-89pc of 2021 values so far this year, according to national statistics agency Insee. Gas demand in these four sectors held below 2015-22 levels in May-July, the latest data available, although this represented a slight rise on the record lows of 2023. Meanwhile, gas consumption by all large industrial consumers connected to the transmission network in August fell to its lowest of any month since at least 2007. Retail electricity prices for French businesses — including network costs and taxes, except value-added tax — were very nearly in line with the EU average of about €200/MWh last year, according to government data. And lower wholesale prices than European neighbours along the curve could provide some incentive for higher uptake of electrification. Calendar-year contracts delivering in 2025-27 were priced at €13.65-17.75/MWh below Germany on 21 October. But at the same time, the government, caught in a budget crisis and intent on slimming its deficit, has put forward an increase in taxes paid by electricity consumers. The exact amount of the increase has yet to be set, but for industry it could come to roughly €5-25/MWh, which could cancel out any decline in retail prices from lower wholesale costs. The government hopes that nuclear power supply contracts , or CAPNs, long-term contracts signed between industrial consumers and French state-controlled utility EdF, will encourage greater consumption. But low market prices have limited the attractiveness of the contracts to consumers, Givernet said, and getting more signed will require "an effort" on the part of both EdF and industrial firms. By Rhys Talbot 20 Oct curtailments: Generation vs prices Monthly consumption on France's electricity networks Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
IMF holds global GDP growth outlook steady
IMF holds global GDP growth outlook steady
Washington, 22 October (Argus) — Global economic growth will hold steady in 2024-25, but protectionist trends and supply chain risks are holding back growth prospects in the longer term, the IMF said today. The IMF's updated World Economic Outlook , released today, forecasts global growth of 3.2pc both in 2024 and 2025. IMF forecasts are used by many economists, including at the IEA, to model oil demand projections. But an "escalation in regional conflicts, especially in the Middle East, could pose serious risks for commodity markets," IMF director of research Pierre-Olivier Gourinchas said. While the IMF does not directly address the outcome of the US presidential election, former president Donald Trump has said he would impose tariffs of up to 20pc on US imports from all countries, and even higher for imports from China. "Shifts toward undesirable trade and industrial policies can significantly lower output relative to our baseline forecast," Gourinchas said. An IMF forecast scenario that involves a trade war between the US, Europe and China would reduce the US GDP annual growth forecast by 0.5 percentage points in 2025-30, with smaller effects in the eurozone and China. The effects of trade policy uncertainty on manufacturing would present an additional drag on growth in all countries involved. The baseline scenario in the IMF report forecasts US GDP growth at 2.8pc this year, an upward revision from the previous forecast issued in July. The IMF revised down its China GDP growth forecast slightly to 4.8pc this year. The IMF has warned for some time that the lackluster medium-term global economic growth and high levels of sovereign debt in major global economies would reduce public investment capacity, including in funding the energy transition. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Explore our gas and power products
Both the natural gas and power services have a long track record of providing well researched pricing, high quality analysis and market intelligence to our clients.
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.