Sharp increase in European prices
European gas prices increased sharply yesterday, supported by cold weather and weak pipeline supply. Indeed, although they increased yesterday to 300 mm cm/day on average,…
The power spot prices in NWE fell below the clean gas costs yesterday, pressured by forecasts of weaker demand and surging wind output. Prices reached 51.92€/MWh in Germany, France, Belgium and the Netherlands, -5.22€/MWh day-on-day.
After a downward correction midday induced by a weak auction result and dropping oil prices, the EUAs rebounded in the afternoon, lifted by sharp gains in the US equities.
The power prices tracked the higher underlying gas and carbon prices and posted moderate gains along the curve on Wednesday.
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