Futures market

• There is currently little impetus from the other energy markets on the futures market - trading is largely moving sideways. The lead contract Cal 26 (Phelix DE) is trading stably around the €88.50/MWh mark. Both the upward and downward potential currently appears limited. However, the positive development of the summer months of 2025 is striking, with the majority of them trading in positive territory - an indication of possible weather- or demand-related price risks in the warm season.

Fuels and CO2

• Gas price development hardly changed today compared to yesterday, with the price for the coming delivery year hovering around EUR 33.80/MWh. There would have been little change in the fundamental data, but market sentiment would have been affected by serious peace talks on the Ukraine war on Thursday - keyword: Russian gas supplies for Europe. From the political side, there is another announcement on the subject of storage filling: the EU is planning to revise its rules on filling gas storage facilities, with the next negotiations due to take place on 3 June.

• Today's CO2 price traded at 72 EUR/t, which is neutral compared to yesterday. You can find more information in our section: CO₂mpass - everything about CO2 trading

Spot market and general information

• In today's spot market auction for tomorrow's delivery day, prices were slightly higher compared to the previous day. The average day-ahead price is €73.40/MWh in Germany and €75.74/MWh in Austria. The main reason for the price increase is the expected lower feed-in from wind and photovoltaic plants.