The weakening French nuclear production, ongoing wind shortage and high gas prices maintained the European power spot prices above 200€/MWh for today. The day-ahead prices indeed averaged 228.32€/MWh in Germany, France, Belgium and the Netherlands, -22.00€/MWh from Friday but +7.06€/MWh week-on-week.
The carbon prices traded rangebound in a narrow range in another illiquid session on Friday, with participants remaining unwilling to build large positions due to the uncertainties over the Russia-Ukraine conflict’s outcome and consequences. Several traders also pointed to the lingering absence of the speculators in the carbon market, likely explaining the low exchanged volumes observed over the past two weeks. The EUA Dec.22 eventually closed at 78.60€/t, +36-cent from Thursday’s settlement and notching a 0.29€/t (-0.37%) weekly loss.
Meanwhile, the power prices posted hefty losses along the curve, tracking the bearish gas market on news of an agreement between the US and Europe to replace the Russia gas supply with US LNG cargoes.
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