Carbon and power prices retreated on weaker energy complex and mild weather forecasts

The European power spot prices were mixed on Tuesday. While German prices eroded 2.65€/MWh to 52.68€/MWh, the French and Belgian prices rose significantly to respectively 70.16€/MWh (+6.31€/MWh dod) and 81.45e/MWh (+18.06€/MWh dod). Prices in the Netherlands however remained stable at 59.59€/MWh, a mere 0.20€/MWh increase day-on-day.

The low temperatures continued to strengthen the French power consumption yesterday which rose by 2.43GW from Monday to 77.91GW on average. The country’s nuclear generation steadied at 51.16GW, -0.04GW from the day prior. The German wind production eased by 1.20GW to 16.79GW on average and should fall by around 6GW today.

EUAs continued to erode Monday morning’s sharp gains, pressured by profit-taking, forecasts of milder and windier weather from mid-January and an overall weaker energy complex combined with losses in the European financial market. Most market participants seem however to keep their short-term bullish outlook for carbon prices, pointing to the limited downward potential due to the supply shortage started on Dec.15th and schedule to last until Jan.29th. The EUA Dec.21 contract eventually settled at 32.96€/t, -0.73€/t from Monday. The power prices posted hefty losses along the curve yesterday, pressured on the far curve by weaker fuels and emissions prices while short-term contracts were driven down by the forecasts of milder temperatures and stronger renewable production.

eua prices
Share this news :

You might also read :

July 20, 2021

European prices extended gains

European gas prices extended gains yesterday, supported by rising temperatures, ongoing weak supply and strong Asia JKM prices (+2.59% on the spot, to €41.291/MWh). On…
April 29, 2021

European prices slightly up yesterday

European gas prices were slightly up overall yesterday. Although the bullish impact of Gazprom’s decision not to book additional shipping capacity to Ukraine for May…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter
Thank you for subscribing to our newsletter​

We will get back in touch with you soon.

Don’t forget to follow us on twitter!

EnergyScan - Newsletter subscription

Don’t have an account yet?