Futures market

• A weak start to the week pushes the lead contract (Cal 26 Phelix DE) downwards. The prospect of the end of winter is causing the Cal 26 Phelix DE to trade sideways between 86 and 86.70 EUR/MWh for most of today. The chart analysis sees support levels at 85 EUR/MWh and then again at 80 EUR/MWh.
  "In the coming days, electricity will follow gas," traders said in an interview with power2market.

Fuels and CO2

• Natural gas prices are correcting sharply downwards - the price has reached a multi-week low. Forecasters are expecting above normal temperatures over the next two weeks, while geopolitical tensions are easing due to the rapidly changing situation. Today, the price for the coming delivery year was already at 37.60 EUR/MWh and for the delivery month of March at 46 EUR/MWh; during the day, however, it was already trading at 45 EUR/MWh.

• Is the bet on rising CO2 prices not working out for speculative players? That is difficult to answer - at first glance, no. However, the position has been reduced, but not noticeably. Today, the price for a tonne of CO2 pollution rights was around EUR 75/MWh, with prices tending to move sideways. This means that the market still sees upward potential.

Spot market and general information

• It will be cold again briefly this week, including precipitation, but the outlook for the end of the week shows rising temperatures and a lot of wind in Germany. This will have a significant impact on spot prices, but not yet on tomorrow's delivery day. Tomorrow, the average price in Germany will still be high at 139.76 EUR/MWh and slightly higher in Austria at 146.79 EUR/MWh.