The forecasts of a wind shortage supported the European power spot prices for today which rose above the clean gas and coal costs despite the warmer temperatures expected in the upcoming hours. The day-ahead prices reached 77.35€/MWh on average in Germany, France, Belgium and the Netherlands, +5.55€/MWh from Friday.
Extending Thursday’s downward move, the EUA prices fell below 50€/t on Friday morning to an intraday low of 49.26€/t. Although falling back at the end of the session, the bellwether contract sharply rebounded early in the afternoon as the low prices is likely to have attracted dip buyers while the rising gas, oil and equity prices provided additional support.
The power curve prices tracked the sharp variations of the emissions but managed to post moderate daily gains as the rising underlying gas prices limited the losses of the carbon-induced late retreat.
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