EUAs continued to extend their sharp bullish trend

The power spot prices were mixed yesterday, up in Germany, Belgium and the Netherlands on forecasts of dropping wind output, but down in France as the country’s power production should ease today with the milder temperatures. Prices reached 62.94€/MWh on average in the four countries, +5.11€/MWh dod with contracts ranging from 61.63€/MWh in the Netherlands to 65.19€/MWh in France.

EUAs extended their sharp upward move to hit a fresh record high of 47.36€/t yesterday, lifted by positive sentiment spurred by the Leaders Summit on Climate held in the US and last-minute compliance buying ahead of the April 30^thdeadline, with possible additional support from the stronger gas prices and bullish equities.

Buoyed by the higher underlying gas and emissions prices, the power prices posted hefty gains along the curve on Thursday.