EUAs soared to new record on late bullish rally

The European power spot prices faded yesterday amid forecasts of stronger wind output, slightly improve French nuclear availability and weaker power demand. The day-ahead prices reached 216.59€/MWh on average in Germany, France, Belgium and the Netherlands, -47.09€/MWh day-on-day.

After an early and sharp rebound from Friday’s late drop, the EUAs traded flat around 80€/t for most of the day yesterday, but sudden soared at the end of the session to hit a fresh intraday record at 81.80, likely supported by the firmer energy prices and continued financial players’ buying interest. The EUA Dec.21 closed at 81.25€/t, +3.00€/t from Friday’s settlement, and extended its surge this morning, climbing above 83€/t with support from weather forecasts being revised colder and subsequent higher energy prices and demand.

The power forward prices were mixed on Monday, down on the front of the curve, but up for the longer-term contracts due to the higher gas and carbon prices.

Energyscan power news
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