The European power spot prices faded further yesterday, weighed by the warming weather and forecast of slightly stronger renewable production and higher nuclear availability. Prices reached 64.29€/MWh on average in Germany, France, Belgium and the Netherlands, – 3.68e/MWh day-on-day with prices ranging from 61.18€/MWh in the Netherlands to 74.32€/MWh in France.
The EUAs presented a bullish session yesterday, climbing towards their recent record amid support from the stronger energy complex, late compliance buying and overall optimism in the financial markets buoying the equities.
Driven up by the bullish gas and carbon markets, the power prices extended hefty gains along the curve with the largest on the shorter term contracts as they received a stronger support from the underlying gas prices and forecasts of below-average temperatures for the remaining of the month.
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