EUAs faded further amid weaker energy prices

The European power spot prices steadied yesterday, torn between forecasts of lower wind generation and weaker demand. The prices hence averaged 61.53€/MWh in Germany, France, Belgium and the Netherlands, -0.94€/MWh day-on-day.

Ignoring for once the bullish signals from the financial markets, the EUAs extended their retreat on Thursday, likely pressured by the weaker energy complex and further profit taking from Tuesday’s surge. The 5-day moving average however acted once again as a strong technical support and capped the losses.

Driven down by the fading emissions and underlying gas prices, the power prices posted moderate losses along the curve yesterday.

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