EnergyScan

EUAs posted slight daily gains

The European power spot prices were mixed yesterday, decreasing in France (-5.99€/MWh day-on-day) on expectations of weaker demand but sharply rising in Germany (+18.71€/MWh), Belgium (+5.30€/MWh) and the Netherlands (+50.01€/MWh) amid forecasts of dropping wind generation. 

The EUAs traded sideways on Thursday, rising alongside the gas market in the morning with additional support from the looming reduced auction supply coming in August, before fading mid-day as some rumors emerged that some industrials had started to sell their just allocated free allowances, and eventually rebounding on the 50-day moving average at the end of the session to settle at 54.05€/t with a slight 0.21€/t (+0.4%) gain from the previous day.

Lifted by the bullish gas market and slight gains of emissions, the power prices posted healthy gains along the curve yesterday.

eua and gas prices vs implied coal to gas switch prices
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