Power and carbon prices rose alongside the gas and oil markets

The European power spot prices continued to slightly fade yesterday as the forecasts of stronger nuclear, hydro and solar generation offset the expectations of higher power demand and weaker wind output. The day-ahead prices reached 87.70€/MWh on average in Germany, France, Belgium and the Netherlands, -1.93€/MWh day-on-day.

The EUAs extended their late rebound from the previous session on Wednesday, taking support from a good Polish auction result and the bullish gas and oil markets to climb by 0.93€/t (+1.8%) to 52.14€/t.

Buoyed by the rising gas and carbon prices, the power prices posted hefty gains along the curve yesterday.