(Montel) Germany’s front-year power was rising on Wednesday and could surpass its all-time high later this week amid record high gas and carbon prices.
The Cal 22 was last seen up EUR 0.95 at EUR 88.50/MWh on the EEX. Earlier in the session it reached EUR 89.30/MWh, its highest price since July 2008 when the current peak of EUR 90.80/MWh was recorded.
“From a technical viewpoint, there is still room to go further up. Even if we see another setback the overall situation remains bullish,” said an Austria-based trader.
“CO2 is strongly…