EUAs rose above 51€/t as the European Commission dismissed the rumors of market intervention to curb the speculative rally

Forecasts of warmer temperatures and stronger solar production pressured the European power spot prices for today, although the expectations of slightly weaker wind generation and French nuclear availability limited the losses. Prices reached 57.91€/MWh on average in Germany, France, Belgium and the Netherlands, -13.65€/MWh from Friday.

Lifted by strong speculative buying, soaring equities and a statement from the European Commission’s First Vice President Frans Timmermans that the carbon prices “should be much higher” for the EU to reach its goals and that the Commission is not planning to intervene to curb the speculation in the market pushed the EUA prices up to a new record of 51.10€/t on Friday.

The power curve prices were mixed on Friday as the short-term prices tracked the fading underlying gas prices while the back end of the curve was supported by the spiking carbon market.

eua december contracts prices and traded volumes
Share this news :

You might also read :

November 27, 2023


Hesitation Macro & Oil #78 In the latest EnergyScan podcast on Macro & Oil, Olivier Gasnier explains that the markets are optimistic about a possible US…
November 21, 2023

The perfect scenario?

The perfect scenario? Macro & Oil Podcast #76 In this week’s Macro & Oil report of the EnergyScan podcast, Olivier Gasnier explains that the ideal scenario…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

🏆 You like our solution ?

Vote for us at the 2024 Energy Risk Commodity Rankings, in the Research category!

Thanks in advance.

Don’t have an account yet?