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The European power spot prices continued to rise yesterday amid forecast of warming temperatures strengthening the demand for cooling and weak renewable production. Prices climbed by 4.29€/MWh in Germany, France, Belgium and the Netherlands to reach 86.83€/MWh on average.
The EUA dropped by 2.8% on Tuesday amid pressure from the falling gas and coal prices and lingering concerns over the looming increased supply induced by the previous day’s publication of higher-than-expected German free allocation plans.
Tracking the sharp retreat of fuels and emissions prices, the power prices posted heavy losses along the curve yesterday, with the short-term contracts extending the largest losses due the stronger fall of the underlying gas prices.
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