The European power spot prices for today slightly faded compared to Friday amid forecasts of weaker demand, higher wind output and French nuclear availability, although the lower solar production expected in the upcoming hours and recent rebound of gas and emissions prices limited the losses. The day-ahead prices hence reached 77.63€/MWh on average in Germany, France, Belgium and the Netherlands, -2.68€/MWh from Friday.
After three consecutive bearish sessions, the EUA prices rebounded on Friday, buoyed by recovering gas prices, forecasts of a potential heatwave for this summer and possibly some additional support from option trading with the quarterly Dec.21 contracts expiring this week.
Driven up by the hot summer prospects and bullish gas and emissions, the power prices posted significant gains along the curve over the last session of the week, the German July contract closing higher than any front-month settlement since 2008.
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