Since Russian supply cuts started in summer 2021 the European gas market has been at the centre of energy market radar screens. European demand for incremental LNG to replace Russian gas has sparked a global wave of investment in new supply. European gas market flexibility is also playing a key role clearing the global gas market and driving LNG prices. Big swings in gas prices in 2023 are feeding directly into price moves across European power markets. Gas fired generation as the dominant price setting fuel is driving both the level of power prices (important for RES & nuclear asset returns) and the level of ... (full story)