The power spot prices fade yesterday in northwestern Europe, weighted by forecasts of higher German wind production, French nuclear availability and hydro generation, although the stronger demand and rising fuels and carbon prices may have limited the losses. The day-ahead prices averaged 175.09 in Germany, France, Belgium and the Netherlands, -25.32€/MWh day-on-day.
The EUAs finally settled above 60€/t on Monday in a bullish session driven by low gas supply and disappointing gas capacity auctions. The Dec.21 contract jumped by nearly 3% in the first hours of trading to the day’s high of 61.12€/t as a lack of increased Russian gas flow into Europe despite Putin’s recent announcement and Gazprom not booking additional capacity in the daily auction buoyed the gas market. Slightly retreating afterward but recovering at the end of the session, the carbon benchmark contract eventually settled at 60.63€/t, +1.24€/t from Friday’s close. The carbon prices are retreating this morning, the gas and emissions markets likely taking a breath after yesterday’s gains, but the 60€/t now turned support could cap the losses.
The power forward prices unsurprisingly mirrored the upward move of the gas and carbon markets and posted moderate gains along the curve.
Get more analysis and data with our Premium subscription
Ask for a free trial here
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.