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Statistics on hedging for France 2021‑2022 at the end of March 2020

At the end of March 2020, hedging rates of natural gas and electricity supply contracts for delivery in 2021 and 2022 are historically high. The downward trend in prices that began in the fall of 2019, and which has accelerated since the beginning of  the Coronavirus pandemic, allows buyers to seize opportunities on the markets, which are at their lowest level since 2017.

In natural gas, the average hedging rate for year 2021 is 50% for the entire Eleneo portfolio, which represents 13,000 GWh.

For 2022, approximately 50% of the natural gas supply contracts remain to be renewed. The hedging rate for signed contracts is 20%.

In electricity, the average hedging rate for year 2021 is 60% for the entire Eleneo portfolio, which represents 15,000 GWh. These hedging rates include the portion eligible for ARENH, which means that many consumers have already hedged part of their ARENH volumes on the market at prices lower than the ARENH price net of the capacity price.

For 2022, around 30% of the electricity supply contracts still need to be renewed.  The hedging rate of the signed contracts is 30%.

Overall, the majority of customers are at the maximum volume that can be hedged at this stage of the year given their hedging strategy and internal risk management rules.

The year 2023 remains little hedged for the moment. Only 15% of our customers currently have supply contracts for 2023.

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