EUAs retreated amid weaker energy complex
Lifted by the expectations of colder temperatures, the European power spot prices slightly rose yesterday despite the forecasts of higher wind output and nuclear availability.…
European gas prices extended gains yesterday, still supported by tight domestic fundamentals.
The strong rise in Asia JKM prices provided additional support, offsetting the drop in parity prices with coal for power generation (both coal and EUA prices were down).
On the pipeline supply side, Russian flows were up yesterday, at 328 mm cm/day on average, compared to 320 mm cm/day on Friday. Norwegian flows were stable, averaging 303 mm cm/day (still significantly below the maximum of 348 mm cm/day of early April).
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