EUAs rebounded after testing the psychological 40€/t level

The forecasts of surging wind output, stronger hydro generation and weaker demand weighed on the power spot prices in north western Europe on Thursday. Prices dropped by 6.98€/MWh to 580.1€/MWh on average in Germany, France, Belgium and the Netherlands.

EUAs faded throughout Thursday amid pressure from the falling oil prices, a drop mid-day of European equities and strengthening concerns over the rising number of new Covid cases across Europe, but managed to rebound at the end of the session after sliding below 40€/t.

If most of the power curve contracts faded yesterday tracking the losses of the gas and carbon markets, the French, Spanish and Belgian April contracts managed to post some gains

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