EUAs and power prices posted slight losses on retreating gas market

The European power spot prices were mixed yesterday, up in France, Belgium and the Netherlands on expectations of weak wind production and strong demand, but up in Germany amid forecasts of slightly higher wind generation with possibly some pressure from the lower clean fuels costs. The day-ahead contracts hence averaged 152.50€/MWh in the four countries, +2.92€/MWh dod and -15.34€/MWh wow.

After peaking at 61.40€/t at the market open, the EUAs progressively faded towards 60€/t throughout Tuesday alongside the waning gas prices with low volatility as most traders were waiting for the quarterly carbon allowances options to expire today before making a move in either direction. Despite a few temporary drops below, the 60€/t level held and the EUA Dec.21 eventually settled at 60.16, -0.52€/t day-on-day.

The retreating gas and emissions prices unsurprisingly weighed on the power curve prices as well, with the largest losses recorded by the near-dated contracts. Meanwhile, the outage at the 2GW UK-France IFA 1 power interconnector has been extended by four weeks, with the return of one 1GW bi-pole delayed to October 23rd. The return of the second one is still planned for March 27th.

EnergyScan - Power market news
Share this news :

You might also read :

November 27, 2023

Hesitation

Hesitation Macro & Oil #78 In the latest EnergyScan podcast on Macro & Oil, Olivier Gasnier explains that the markets are optimistic about a possible US…
November 21, 2023

The perfect scenario?

The perfect scenario? Macro & Oil Podcast #76 In this week’s Macro & Oil report of the EnergyScan podcast, Olivier Gasnier explains that the ideal scenario…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

🏆 You like our solution ?

Vote for us at the 2024 Energy Risk Commodity Rankings, in the Research category!

Thanks in advance.

Don’t have an account yet? 

[booked-calendar]