EUAs climbed to new record above 64€/t

The European power spot prices for today observed mixed variations from Friday to reach close levels near 140€/MWh. Averaging 141.94€/MWh in the four countries, the day-ahead contracts rose by 34.24€/MWh in Germany compared to Friday, edged down by 1.37€/MWh in France and dropped by 17.03€/MWh and 15.70€/MWh in Belgium and the Netherlands.

After a week of rangebound trading and despite unsupportive weather conditions, the EUAs surged to a fresh record high on Friday amid a bullish energy complex and a strengthened buying interest from investors. The carbon prices jumped a first time by 1€/t in the aftermath of the morning auction alongside the sharply rising gas prices. Calming midday, the emissions posted their largest gains later in the afternoon once the US markets opened, and hit up to 64.16€/t, a new record already exceeded this morning, before fading back to settle at 62.94€/t with nonetheless significant 2.40€/t (+4%) and 3.46€/t (+5.8%) daily and weekly gains.

The power futures prices reflected the bullish gas and carbon markets, and posted moderate gains along the curve with for once the largest seen in the long-term contracts.

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