EUAs retreated after a bullish opening on Friday

The European power spot prices for today slightly rose compared to Friday as the wind production, although expected to remain strong, started easing on Sunday after surging over the two previous days. If the holiday today should curb the power demand, the weak French nuclear availability expected today provided additional support to the day-ahead prices which reached 35.50€/MWh on average in Germany, France, Belgium and the Netherlands, +6.15€/MWh from Friday but -36.49€/MWh week-on-week.

Temporarily extending Thursday’s rebound, the carbon prices opened on a bullish tone on Friday but quickly started to fade back and drop a the end of the session as some traders took their profits ahead of the long weekend while the retreating gas long-term prices and U.S. equities weighed on the market.

The power prices posted slight gains over the last session of the week, the short-term contracts finding some support in the strengthening underlying gas prices while further on the curve the power prices were buoyed by the early gains of the carbon market.