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Most the power spot prices rebounded in northwestern Europe yesterday on forecast of a sharp drop in wind output for today, with prices rising by up to 106.56€/t in Germany from the previous day. The French prices however slightly retreated as the country is expected to observe a warmer and wetter weather today. The day-ahead prices averaged 236.09€/MWh in Germany, France, Belgium and the Netherlands, +36.23€/MWh day-on-day.
Still marked by a thin liquidity, the EUA prices tracked the bearish gas market yesterday amid decreasing Asian prices and milder weather forecasts, although the still tight Norwegian and Russian gas supply limited the pressure. The 80€/t level capped once again the losses, but some market participants started to question the sustainability of the so-far strong support, pointing to the weak demand during the auctions and overall limited interest in EUAs in January. The EUA Dec.22 eventually closed at 80.58€/t, -1.50€/t from Friday.
As usual, the fading gas and carbon prices pressured the power forward prices which posted losses along the curve, the largest being seen in the short-term contracts due to the forecasts of warmer temperatures.
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