(Montel) Germany’s benchmark power contract eased on Monday, tracking losses in gas and carbon that both touched multi-week lows.
German power for delivery next year last traded at EUR 472/MWh, down EUR 18 or almost 4% on its previous close. Earlier it touched EUR 460/MWh and has shed about 56% since hitting a record 1,050/MWh late last month.
Traders emphasised a continued improvement in gas inventories coupled with news at the weekend of Germany securing additional LNG supply from the United Arab Emirates.
German utility RWE will…