EUAs climbed above 52€/t with support from the bullish gas market

The power spot prices were mostly stable in northwestern Europe yesterday, remaining just below the clean gas costs as the contracts were torn between forecasts of stronger solar production, warmer temperatures and a lingering wind shortage. The day-ahead prices reached 76.26€/MWh in Germany, France, Belgium and the Netherlands, -0.35€/MWh day-on-day.

The EUA prices rose on Tuesday in a gas-driven bullish morning before the middle Bollinger band and a weak auction capped the gains and the carbon bellwether contract started to trade rangebound around 52.20€/t.

The surging gas prices and early upward move of emissions strongly buoyed the power prices yesterday which posted hefty gains along the curve, the largest being observed on the short-term contracts due to the additional support from the forecasts of way above-average temperatures for the upcoming weeks.

EUAs climbed above 52€/t with support from the bullish gas market
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