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Forecasts of warmer temperatures and stronger solar production pressured the European power spot prices for today, although the expectations of slightly weaker wind generation and French nuclear availability limited the losses. Prices reached 57.91€/MWh on average in Germany, France, Belgium and the Netherlands, -13.65€/MWh from Friday.
Lifted by strong speculative buying, soaring equities and a statement from the European Commission’s First Vice President Frans Timmermans that the carbon prices “should be much higher” for the EU to reach its goals and that the Commission is not planning to intervene to curb the speculation in the market pushed the EUA prices up to a new record of 51.10€/t on Friday.
The power curve prices were mixed on Friday as the short-term prices tracked the fading underlying gas prices while the back end of the curve was supported by the spiking carbon market.
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