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Germany July Recoups Losses on Gas Rally

POWER

Germany July power base load has recovered earlier losses to trade stable amid rally in European gas prices. Lower carbon allowances continue to offer downside.

    • France Base Power JUL 24 down 0.2% at 44.9 EUR/MWh
    • Germany Base Power JUL 24 down 0.2% at 74.42 EUR/MWh
    • EUA DEC 24 down 1.1% at 70.6 EUR/MT
    • TTF Gas JUL 24 up 2.1% at 33.8 EUR/MWh
  • TTF front month has rallied back into positive territory on the day to reach just above the high from Friday at €33.68/MWh but with no clear market driver. The market remains wary of supply risks as Europe looks to slowly build natural gas stores ahead of next winter.

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