As expected, the European power spot prices edged down yesterday amid forecasts of sharply rising wind output and weaker power demand, although today’s lower solar generation may have limited the bearish pressure. The day ahead-prices hence reached 88.69€/MWh on average in Germany, France, Belgium and the Netherlands, -2.73€/MWh day-on-day.
Ignoring the pressure from the British carbon allowance auction, the EUAs continued to rise alongside the soaring gas market on Wednesday with additional support from further leaks of the EC’s reforms for the EU ETS suggesting that the heavily emitting shipping sector could be integrated to the trading system.
The power forward market once again mirrored the spiking gas and emissions prices, most of the power curve prices extending heavy gains to extend their multi-year highs.
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