Energy
Fuel prices and electricity: how strong is the link?
Monthly changes in the power price against monthly changes in each fuel driver, over rolling 12- and 36-month windows. A strong link means fuel sets the price; a broken one means renewables, hydro or the grid have taken over.
Drivers
Correlation of month-on-month changes, not levels: two prices that only trend together do not count as linked.
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Every zone: link with EU gas and Brent
Latest 12-month correlation of monthly changes.
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Sources: FRED (EIA and IMF series), ECB exchange rates, GIE AGSI+ storage, ENTSO-E and Nord Pool prices. The EU gas price is the IMF's monthly benchmark; a daily TTF feed is not included.