Macro & Oil Report : Lower interest rates for better or worse?
Macro & Oil Report: Lower interest rates for better or worse? Macro & Oil #121 Rates fall sharply in the US, but caution in the…
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NWE spot baseload power prices increased yesterday, to €138.172/MWh on average for today delivery (compared to €132.480/MWh for Thursday), supported by forecasts of lower wind generation (4053 MW for today in Germany, compared to 6240 MW yesterday), in a context of higher clean fuel costs.
EUA Dec’21 prices maintained their uptrend and closed at €62.75/t (+0.48% day-on-day), supported by the rise in the CO2 switching level between gas and coal.
Curve power prices followed the increase in clean fuel costs. German Cal 2022 baseload prices closed at €96.70/MWh yesterday, +3.09% compared to the previous session. French Cal 2022 baseload prices were up by 3.18%, closing at €100.45/MWh.
Like on clean fuel costs, the trend is strongly bullish for curve power prices, and only profit taking by financial participants and technical resistances (€96.45/MWh on German Cal 2022 baseload) seem able to calm the upward pressure.