Futures market

• Electricity prices on the futures market were unsteady today compared to the previous day. Although the lead contract Cal 26 Phelix DE initially continued its overall upward trend and reached a high of EUR 88.35/MWh during the course of the day, the contract lost significant momentum in the afternoon. However, the current movement remains technically intact and further upward potential cannot be ruled out in view of Friday, which is usually more volatile.

Fuels and CO2

• A firmer trend prevailed on the natural gas market today. The contract for the delivery year 2026 recorded a noticeable price increase and was last quoted at EUR 34.80/MWh - an increase on the opening price of EUR 33.60/MWh. The drivers remain the continued weak wind power generation, which is expected to remain low in the coming week according to forecasts, as well as political announcements by the EU regarding long-term security of supply. The below-average gas storage levels in Europe are also supporting the market. Added to this is the increasing demand from Asia, which is intensifying global competition for LNG.

• The CO2 price traded very volatile today, most recently at 70.70 EUR/t, which is partially below yesterday's value. Details in our section: CO₂mpass - everything about CO2 trading

Spot market and general information

• Noticeably lower day-ahead baseload prices were recorded on the spot market for tomorrow, Friday. In Germany, a significant increase in PV in particular - around 5 GW more than today - is providing relief for prices. Despite continued weak wind power generation, which is well below the seasonal average, the simultaneous low demand for electricity is having a price-supporting effect. In Austria, the renewed availability of hydropower is also putting additional pressure on prices. The average baseload price there is EUR 78.86/MWh, while in Germany it is slightly higher at EUR 81.11/MWh.