The European power spot prices continued to drop yesterday on retreating gas and carbon prices and forecasts of fading power demand and soaring wind production. The day-ahead prices averaged 270.38€/MWh in Germany, France, Belgium and the Netherlands, -86.75€/MWh day-on-day, and -68.58€/MWh week-on-week.
After a slight rebound at the market open, the carbon quickly reversed and waned throughout Thursday, mirroring the falling gas and power prices on news of US LNG cargoes heading toward Europe. The EUA Dec.22 closed at 74.46€/t, -2.37€/t from Wednesday’s settlement.
Tracking the collapsing gas prices, the power forward prices extended hefty losses along the curve.
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