EnergyScan

EUAs posted significant gains on bullish wider markets

The European power spot prices retreated yesterday as forecasts of rapidly surging wind output pressured the market. The day-ahead prices averaged 239.81€/MWh in Germany, France, Belgium and the Netherlands, -50.32€/MWh day-on-day.

The carbon prices soared by 4% on Tuesday, buoyed by the firmer gas prices and a rebound of equities with additional support from the colder weather forecasts for continental Europe for the upcoming days. The EUADec.22 settled at 87.45€/t, +3.43€/t from Monday’s close, and are extending their upward trend this morning, likely driven by the rising equities. A test of this year’s high of 88.55€/t and possibly last year’s (91.19€/t) is not to be excluded later today. The MACD is now turning to the bullish side, but the Relative Strength Index suggests the market might be overheated.

The power forward prices once again unsurprisingly tracked the bullish gas and carbon markets and posted rather hefty gains along the curve.

energyscan power news
Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet?  Sign up here!

[booked-calendar]