Futures market

• A strong start to the new trading week in the morning, but the market quickly corrected expectations of rising prices. On the one hand, there is uncertainty from the natural gas market, while on the other, the spot market is signalling the start of the renewable energy season - including negative prices that are pushing down the market value of power plants. Trading started today with a peak price of 87.69 EUR/MWh for baseload delivery in the coming year(Cal 26 Phelix DE) and, after slight losses, moved sideways to a level of 86.30 EUR/MWh.

Fuels and CO2

• As we wrote on Friday, rumours are currently dominating the natural gas market. Reports such as "Trump wants to put Nord Stream 2 back into operation" are causing confusion and a drift away from the fundamentals. Fundamentally, however, nothing has changed. The high storage level in the EU is preventing a massive drop in prices, as Europe is in global competition - especially with Asia. Weather and politics will remain the decisive factors. Today, the trading week started strongly, then corrected slightly and stood at 37.50 EUR/MWh in the afternoon.

• On the CO₂ market, it's a case of wait and see. For speculative investors, the question is: Will the bet on rising certificate prices pay off? In addition to the gas price, the development will largely depend on the economic situation and European politics. Today, the contract was trading in positive territory at between EUR 74.50-75.50 per tonne.

Spot market and general information

• They are back! Prices are around zero or even in negative territory - on weekdays on 3 March! Today at midday (12-14 h: 0.33 and 0.01 EUR/MWh) the price is hovering around zero. These are the harbingers of PV feed-in. There is currently no danger in Austria: Due to the poor water year and the lack of PV and wind expansion, prices in these hours are at 86.57 EUR/MWh and 50.54 EUR/MWh respectively. In today's auction for tomorrow, the price for Germany was set at XX EUR/MWh and for Austria at XX EUR/MWh.