German far curve cools its heels

摘要

Far curve prices in Germany rallied mid-April on the back ofrnbullish generating fuels only to step down late in week 16.rnCal-19 baseload delivery hit a record high for a closing pricernat €36.45/MWh April 16, the contract peaking at €38.75/rnMWh that day, up 7% from the start of the month. “Oil, coal,rngas and EU carbon allowances – all up,” a participantrnsummarized. “It’s extremely volatile and difficult tornforecast. I think in the short run we have seen the high.” OnrnApril 20 the Cal-19 base was seen at €37.60/MWh, with EUrncarbon allowances back below €13/mt, having hit €14/mtrnearlier in the week.