Bullish CO2 and coal prices saw the Polish year-ahead baseload contract in week 36 continue to move upwards reaching new all-time highs. The Cal-19 baseload contract traded on the Polish Power Exchange (TGE) at Zloty 262.55/MWh (€60.93/MWh) September 6, up 3.4% from Zloty 254.03/MWh August 30. The contract has now risen 56% year on year. “The main reason is coal. People were expecting a level of Zloty 250/MWh would be temporary and we would start to see a move downwards. That didn’t happen, causing some panic,” one trader said. At around $95/mt, CIF ARA front-year coal was trading at a five-year high September 5 and 6, while the EU carbon allowance for December hit €21.47/mt.
展开▼
