The power spot prices remained steady at 88.30€/MWh on average in Germany, France, Belgium and the Netherlands (+0.60€/MWh day-on-day) amid expectations of mostly unchanged fundamentals for today. The EUAs fell by 1.35€/t (-2.6%) on Thursday in a sharp downward move mainly attributed to traders taking profits ahead of the summer holidays and technical pressure with…
Brent prompt prices are back to their level of the start of the week: above $73/b. The sharp downward correction on concerns over the Delta variant ($67.44/b was touched on Tuesday) has been entirely erased, as risky assets in general posted a strong recovery and the oil market acknowledged it would remain under supplied during summer.…
European gas prices were mixed yesterday. Spot prices were slightly down, pressured by lower demand. By contrast, curve prices were rather up, more sensitive to the rise in oil and Asia JKM prices than to the drop in parity prices with coal for power generation (both EUA and coal prices were down). On the pipeline…
Looking at markets’ reaction after the ECB meeting, the new forward guidance is a success: the euro is slightly weaker vs the USD (around 1.1770) and bond yields have eased a bit (-2 to 3bp for the Italian 10Y for example). The message was broadly dovish: the ECB will not consider interest rate hike unless it…
The European power spot prices continued to slightly fade yesterday as the forecasts of stronger nuclear, hydro and solar generation offset the expectations of higher power demand and weaker wind output. The day-ahead prices reached 87.70€/MWh on average in Germany, France, Belgium and the Netherlands, -1.93€/MWh day-on-day. The EUAs extended their late rebound from the…
