The forecasts of lower temperatures and weaker renewable production supported the power spot prices in north western Europe yesterday which rose just above the clean coal costs. Prices reached 70.36€/MWh on average in Germany, France, Belgium and the Netherlands, +7.87€/MWh day-on-day.
The carbon prices eroded their losses from a bearish morning yesterday afternoon, likely driven up by speculators aiming at the 50€/t with support from the bullish gas and oil markets while the compliance cycle is about to reach its end.
The stronger gas prices and late rebound of emissions buoyed the power forward market, the power prices posting decent gains along the curve.
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