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The European power spot prices soared above 200€/MWh for today, lifted by forecasts of stronger power demand following yesterday’s public holiday and a drop in wind output. The day-ahead prices averaged 204.04€/MWh in Germany, France, Belgium and the Netherlands, +110.06€/MWh day-on-day and +4.74€/MWh week-on-week.
The EUAs observed another volatile session on Monday, mirroring the sharp variations of the energy complex. The Dec.21 contract rose up to a 2-week high at 60.45€/t in the morning, buoyed by news that gas imports from Russia through Mallnow stopped, but reversed and collapsed below 57€/t in the afternoon as the gas prices fell back, ignoring the firmer equities. The benchmark contract eventually closed at 56.94€/t, -1.77€/t (-3.01%) from Friday’s settlement.
The power forward prices tracked the early rise of the gas and carbon markets and the following sharp retracement to eventually post moderate losses along the curve.
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