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EUAs hit fresh record on early gas strength late compliance buying – EnergyScan

EUAs hit fresh record on early gas strength late compliance buying

The power spot prices were mixed in north western Europe yesterday, up in France and Belgium on expectations of higher demand and weaker renewable production, but down in Germany and the Netherlands on forecasts of stronger wind output and warmer temperatures. Prices reached 61.17€/MWh on average in the four countries, +0.93€/MWh day-on-day.

EUAs pursued their climb to hit a new record at 47.73€/t on Monday morning, supported by an early upward move of gas prices and possibly some further (although fading) last-minute compliance buying. A weak auction result and weakness in the financial markets however pressured the market afterward, pushing emissions prices to slightly correct before steadying for the remaining of the day.

The power curve prices edged up yesterday, supported by the early gains of the carbon market but weighed by the fading underlying gas prices. The long-term prices settled nearly flat from Friday as the losses were more pronounced on the back end of the gas curve.

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