(Montel) Germany’s benchmark front-year power contract was on track to extend a rally for a third consecutive session on Monday as a 10% jump in gas prices supported the energy complex higher.
The Cal 24 last traded at EUR 129.15/MWh, up EUR 2.15 on its prior close on the EEX exchange.
Earlier it touched a peak of EUR 129.35/MWh and has risen 4% since striking a three-month low of EUR 123.75/MWh last Thursday.
Gains in front-month power were more pronounced. October delivery last stood at EUR 106.29/MWh, up EUR 5.21 on the day after earlier touching a one-month high…