Most northwestern European power spot prices decreased yesterday on forecasts of weaker demand and higher wind output, although the French prices presented a much contained fall due to expectations of lower nuclear availability. The day-ahead prices averaged 180.99€/MWh in Germany, France, Belgium and the Netherlands, -18.31€/MWh day-on-day.
On the curve, power prices went up tracking the steep rise of the gas market on weaker Norwegian supply due to planned maintenance and lingering high concerns over the fuel imports from Russia to Europe, while the very bleak outlook of the French nuclear availability provided additional support.
The resurgence of activity in the carbon market left as quickly as it came, the EUAs slowly fading over most of Thursday before slightly and temporarily rebounding at the end of the session, all with once again low exchanged volumes. The EUA Dec.22 eventually closed the day at 86.44€/t, -1.38€/t from Wednesday’s settlement. The carbon prices are increasing this morning, but the late sharp drop in European equities might weigh on the market later today with possible help from traders taking their profits from Wednesday’s surge ahead of the weekend.
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