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 weakened yesterday, to €112.303/MWh on average for today delivery (compared to €118.879/MW for Thursday), pressured by forecasts of higher wind generation (5596 MW for today in Germany, compared to 3151 MW yesterday).
EUA Dec’21 prices resumed their uptrend and closed at €61.52/t (+2.33% day-on-day), supported by the rise in the CO2 switching level between gas and coal in a context of lower auction supply.
Curve power prices followed the increase in clean fuel costs. German Cal 2022 baseload prices closed at €89.66/MWh yesterday, +1.77% compared to the previous session. French Cal 2022 baseload prices were up by 1.54%, closing at €92.50/MWh.
Like clean fuel costs, curve prices could continue to increase today. However, technical resistances (€90.52/MWh on German Cal 2022 baseload) could contribute to limit gains.