(Montel) German power prices retreated on Tuesday after a rally in the previous session, amid increased wind power forecasts and mirroring similar movements in the gas market.
The Cal 24 last traded EUR 1.35 lower on the day at EUR 126.25/MWh after reaching a 10-day high on Monday, EEX data showed.
The front month lost EUR 2.40 to EUR 101.60/MWh, while next week’s power price was down EUR 1 to EUR 94/MWh.
“It’s all coming from the gas market again,” said a German power trader.
In gas trading, Europe’s benchmark TTF front month…