EUAs failed again to close above 60€/t

The European power spot prices were mixed for today, down in Germany and the Netherlands amid forecasts of stronger wind and solar generation, but up in France and Belgium with support from expectations of lower nuclear availability and higher power demand. The  day-ahead prices averaged 177.18€/MWh in the four countries, +1.53€/MWh day-on-day.

Failing another attempt to close above their 60€/t and 50-day moving average, the EUAs eventually closed flat from Wednesday, although for once the exchanged volumes were quite significant compared to the previous weeks. The carbon prices timidly tested for a first time the 60€/t level in the morning, but the largest gains were seen in the afternoon, possibly buoyed by the rising equities while ignoring the weakening energy complex, as the Dec.21 rose up to 61.45€/t. The upper Bolllinger band however capped the gains, and the strong selling that followed quickly pushed the benchmark contract back below 60€/t, with some market participants attributing the retreat to news of higher Russian gas flow via the Yamal pipeline. The EUA Dec.21 eventually closed at 59.86€/t, only 4-cent above Wednesday’s settlement.

Meanwhile, the power curve posted slight losses, torn between the fading gas prices and the temporarily bullish emissions.

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