EnergyScan

Power prices dropped further while EUAs slightly recovered

Although strongly easing from the previous day’s peak, the European power spot prices remained at high levels above 200€/MWh yesterday, supported by the nonetheless still high gas prices, the below-average temperatures strengthening the power demand and a wind shortage. The day-ahead prices averaged 203.84€/MWh in Germany, France, Belgium and the Netherlands, -97/64€/MWh day-on-day.

The carbon prices continued to present a strong volatility on Thursday, dropping to the day’s low of 57.75€/t in the first hours of trading amid fading energy prices before rebounding on a technical support as this level seems to have attracted dip buyers, confirming the strong support and buying interest around 58€/t, and the gas market started to recover. After climbing above 60€/t, the EUAs temporarily fell back near 58€/t in the afternoon as the gas prices started to drop again, but quickly gave back the losses, leading the EUA Dec.21 to eventually settle at 60.37€/t, 1.25€/t day-on-day. 

The power curve prices tracked closely the variations of the underlying gas prices yesterday, posting heavy losses along the curve, especially on the front, despite a mid-day short-lived recovery.

EnergyScan - Power market news
Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

ES-gas
July 1, 2022

Prices maintain their bullish trend

European gas prices were up overall yesterday, still supported by uncertainties on Russian supply and LNG flows (following the shutdown of the US Freeport LNG…
ES-economy
July 1, 2022

Equity markets down 20-30% in H1

For the first time since the beginning of the year, US consumer spending contracted in real terms (deflated for inflation) in May, amplifying recession fears and the downward…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet?  Sign up here!

[booked-calendar]