The power spot prices surged by 14.48€/MWh on average in Germany, France and the Netherlands, lifted by a combination of weak renewable production and a demand strengthened by below-normal temperatures. On the other hand, prices in Belgium dropped by 14.22€/MWh from the day prior.
The French power consumption edged up to 78.19GW on average yesterday, +0.27GW day-on-day, similarly to the country’s nuclear generation which gained 0.35GW on day to reach 51.51GW on average.
The German wind production eased by 5.42GW to 11.37GW on average, and should drop further to around 7GW today.
EUAs climbed by 0.62€/t at the opening of Wednesday’s session, likely pushed by the early steep rise of equities. Emissions however proceeded to give back all the gains afterward and would have settle the day flat if a late surge of the U.S. financial markets betting on a Democrats’ victory over the control of the U.S. senate had not buoyed back the carbon market over the last hour of trading. The EUA Dec.21 contract eventually closed the day at 33.63€/t, +0.67€/t from Tuesday.
If a few short-term power contracts posted slight gains supported by the surging prompt prices, most of the power prices extended losses yesterday along the curve, weighed by weaker fuels prices and weather forecasts announcing milder temperatures mid-January. The far curve prices were overall steady, torn between higher EUAs and lower gas underlying prices.
Get more analysis and data with our Premium subscription
Ask for a free trial here
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
We will get back in touch with you soon.
Don’t forget to follow us on twitter!