Except in France where prices inched down on expectations of weaker demand, the European power spot prices slightly rose yesterday, buoyed by forecasts of dropping wind output and lower nuclear availability. The day-ahead prices averaged 235.24€/MWh in Germany, France, Belgium and the Netherlands, +13.98€/MWh day-on-day.
The carbon prices traded sideways in a narrow range yesterday with little intention to move away from the 80€/t level ahead of the quarterly options’ expiry coming on Wednesday. The EUA Dec.22 closed at 78.39€/t, -0.50€/t from Friday’s settlement. Most market participants are expecting prices to remain just below 80€/t with very low exchanged volumes until the options expire tomorrow, especially as the energy markets’ volatility has significantly reduced over the past few days.
The power prices extended moderate gains along the curve on Monday, pressured by the fading gas prices amid forecasts of mild weather.
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