The power spot prices sharply rose yesterday in northwestern Europe, buoyed by higher gas and carbon prices combined with forecasts of stronger demand and dropping wind output. The day-ahead prices averaged 157.29€/MWh in Germany, France, Belgium and the Netherlands, +70.79€/MWh day-on-day.
The EUAs opened the year with a 4% rise, an upward move driven by a supportive energy complex and lack of primary sale amid low liquidity as Monday was a UK bank holiday. After a late jump, the EUA Dec.22 eventually settled at 84.01€/t, +3.36€/t from Friday’s close. The benchmark contract also went back into overbought territory for the first time since early December.
The power forward prices posted mostly losses along the curve despite a rebound in gas prices.
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