Investor Presentaiton
18
Q1 2022 Results
May 2022
ENGIE
GEMS in Q1 2022
Key strengths: long gas position and net seller of volatility
Extreme Q1 2022 market environment
•
Consecutive new highs for prices throughout Q1 2022, along
with huge volatility, and globally rising geographical spreads
Exceptional outperformance on all GEMS activities
Gas optimization boosted by prices and spreads
Key market drivers
(€/MWh)
•
Higher volumes from customers risk management
•
Higher volatility for trades
Reinforced risk control framework and adapted hedging
strategies
Q1
Q1
YOY
2021 2022
delta
Prices &
Spreads
(month ahead)
France baseload power
53
282
+229
Gas TTF
18
100
+82
France Clean Spark
Spreads
1
49
+48
Gas
TTF-THE
(0.1)
1.5
+1.6
geographical
(Netherlands-Germany)
spreads
TTF-TRF
(0.1) (1.2)
-1.1
(Netherlands-France)
Volatility
Bid-Ask spread
0.04
0.54
+0.50
Gas intraday volatility
(spread low-high)
1.1
20.3
+19.1View entire presentation