Prices rise on Norwegian maintenance, geopolitical concerns

was up 0.24 euros at 39.05 euros ($43.3) per
megawatt hour (MWh), or 12.69 $/mmBtu, by 0857 GMT, according to 
LSEG data. 
In the British market, the day-ahead contract 
was up 2.50 pence at 92.50 pence per therm. 
"The upward movement reflects the fear premium and market sentiment around supply-side disruption due to ongoing 
geopolitical tensions ... counter to the relaxed demand 
outlook," said LSEG analyst Timothy Crump. 
A significant part of Norway's annual maintenance period begins this week with multiple ongoing outages. 
Norwegian nominations have dropped by 10 million cubic meters per day (mcm/d) on the day ahead, with Franpipe, Emden 
and Dornum all edging down as planned maintenance starts to ramp 
up at both fields and processing plants, LSEG data showed.
Russia said the West was playing with fire by considering allowing Ukraine to strike deep into Russia with Western 
missiles, and cautioned the United States on Tuesday that World 
War Three would not be confined to Europe. 
Russian gas still flows to Europe and gas producer Gazprom said it would send 42.4 million cubic metres (mcm) of 
gas to Europe via Ukraine on Wednesday, unchanged from Tuesday. 
European gas storage levels have reached 91.83% of capacity, having hit a Nov. 1 target two months early, Gas Infrastructure 
Europe data showed. 
In Britain, temperatures are set to continue to drop to a low on the day, before rising again over the weekend. 
In the European carbon market, the benchmark contract rose 0.97 euros to 71.46 euros per metric ton.