EUAs extended gains over the first session of the year

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.

Energyscan power news
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