EUA eroded most of their previous day’s losses amid rebounding gas and equities

The European power spot prices rose further up yesterday amid forecasts of colder temperatures and dropping wind output. Much closer than the previous day, the day-ahead prices reached 69.84€/MWh on average in Germany, France, Belgium and the Netherlands, +21.53/MWh day-on-day.

The carbon prices rose throughout Wednesday, eroding most of Tuesday’s losses as the market tracked the increasing gas and oil prices and rebounding financial markets, with additional support from the German finance and environment ministers announcing that the country will strengthen its 2030 emissions reduction target to 65% instead of 55% and reach climate neutrality in 2045, five years earlier than planned.

The power prices extended gains along the curve yesterday, mirroring the rebound of the gas and carbon markets.

EUA prices and equities
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