Month-ahead power prices in Europe fell this week after weather forecasts signaled that warmer than usual and windier weather conditions would prevail in northwest Europe in the coming weeks. The power price for February in Germany, which serves as a benchmark for Europe, has dropped by nearly 10 percent this week, according to estimates from Bloomberg . However, year-ahead power prices in Germany have jumped by the same percentage this week, suggesting that electricity prices in Europe will continue to be high even a year from now. The near-term prices have fallen because the latest weather models show warmer temperatures and more wind for wind power generation. Nevertheless, the European natural gas and power prices picked up in 2022 where they left off in 2021—amid a rollercoaster volatility. On Friday, European and UK gas prices eased as arrivals of LNG cargoes mostly offset continued low gas supply from Russia. […]