The European power spot prices eased yesterday amid forecasts of lower demand, improved French nuclear availability and slightly stronger hydro and wind productions. The day-ahead prices averaged 200.40€/MWh in Germany, France, Belgium and the Netherlands, -27.27€/MWh day-on-day.
The carbon prices rose throughout Thursday, recouping this week’s losses amid falling energy prices although most participants saw this upward move as noise fueled by the market’s particularly low liquidity ahead of the Easter break and the EUAs’ ongoing negative correlation with the gas market rather than a fundamentally-driven recovery. The EUA Dec.22 eventually closed the day at 79.97€/t, +2.53€/t from Wednesday’s settlement.
After an already bearish morning, the power curve prices posted significant losses yesterday afternoon tracking the plummeting gas prices as reports emerged that Russia may continue to accept gas payment in euros.
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