EUAs and power prices tracked the early gains and following retracement of the gas market

The European power spot prices soared above 200€/MWh for today, lifted by forecasts of stronger power demand following yesterday’s public holiday and a drop in wind output. The day-ahead prices averaged 204.04€/MWh in Germany, France, Belgium and the Netherlands, +110.06€/MWh day-on-day and +4.74€/MWh week-on-week.

The EUAs observed another volatile session on Monday, mirroring the sharp variations of the energy complex. The Dec.21 contract rose up to a 2-week high at 60.45€/t in the morning, buoyed by news that gas imports from Russia through Mallnow stopped, but reversed and collapsed below 57€/t in the afternoon as the gas prices fell back, ignoring the firmer equities. The benchmark contract eventually closed at 56.94€/t, -1.77€/t (-3.01%) from Friday’s settlement.

The power forward prices tracked the early rise of the gas and carbon markets and the following sharp retracement to eventually post moderate losses along the curve.

Energyscan power news
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