Cal 06 rages against dying of the light

摘要

Both French and German power markets have been in thrall to the spot market in the two weeks to December 16, with the curve being pulled up and down by the day ahead. The dying days of the Cal 06 contract has seen new heights with German Stadtwerke appearing to be short, while most of the trading houses are still long. On December 5, the German Cal 06 base broke new ground, trading at ?48.95/MWh on higher EUA 2006 prices, which firmed to ?22.60/tonne that day. The curve was also driven by a strong prompt, with day-ahead peak firming some ?15-20/MWh to ?125/MWh. January peak stood at ?88/MWh, February at ?84/MWh. French Cal 06 base also moved up sharply on December 5, closing at ?49.2/MWh.