As expected, the surging wind output expected from today weighed on the European power spot prices yesterday, although the below-normal temperatures and weak nuclear availability in France kept the country’s prices above the others. Prices reached 63.62€/MWh on average, in Germany, France, Belgium and the Netherlands, -12.68€/MWh day-on-day with day-ahead contracts ranging from 56.20€/MWh in the Netherlands to 78.27€/MWh in France.
After a bearish opening the EUA prices rose sharply throughout the day, buoyed by the ongoing EU Climate Law trilogue negotiations, and finally climbed above 45€/t at the end of the session to hit a record 45.19€/t before slightly retreating to close the day below what seemed to be the speculators’ target in the past few weeks.
Despite the overall stronger gas and carbon prices, the power prices posted losses along the curve, possibly catching up with Monday’s late drop of emission prices.
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