Mixed price evolution
European gas prices were mixed on Friday. Spot prices were slightly up, supported by below-normal temperatures. By contrast, curve prices were slightly down as the…
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The power spot prices continued to rise in northwestern Europe yesterday, buoyed by higher gas prices and forecasts of stronger power consumption and weak wind generation. The day-ahead prices averaged 145.90€/MWh in Germany, France, Belgium and the Netherlands, +4.17€/MWh day-on-day.
The EUAs sharply rebounded from Friday’s fall on Monday morning, driven up by another surge of gas prices which pushed the Dec.21 contract back above 62€/t in the first hours of trading. Lifted by a spike of gas prices, the carbon benchmark contract climbed to its intraday high of 62.69€/t mid-afternoon but the sudden rise triggered some profit taking and the emissions eventually broke their correlation with the fuels markets in a late retreat that brought the Dec.21 contract down to 61.07€/t, only 15-cent up from Friday’s settlement.
The power forward prices rose to new records yesterday, posting massive gains along the curve amid increasing gas supply concerns for this winter.