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German, French June Power Reverses Gains on Energy Complex

POWER

The German and French front month power base-load contracts reversed earlier gains to trade lower on the day, after European carbon allowances and fuel prices erased earlier gains despite no real change in fundamentals.

  • Losses in the French front-month power contract are more pronounced than in the German equivalent, widening the spread to the German market to €34.20/MWh, the highest since 17 April.
    • France Base Power JUN 24 down 0.8% at 40.29 EUR/MWh
    • Germany Base Power JUN 24 down 0.7% at 74.25 EUR/MWh
    • EUA DEC 24 down 0.4% at 75.95 EUR/MT
    • TTF Gas JUN 24 down 0.4% at 32.885 EUR/MWh
    • Rotterdam Coal JUN 24 down 0.1% at 113 USD/MT
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