(Montel) Germany’s benchmark front-year power contract bounced back on Thursday in line with higher gas prices.
The Cal 24 last traded EUR 1.59 higher at EUR 125.09/MWh on the EEX, after hitting a 3.5-month low of EUR 122/MWh in the previous trading session.
The October contract was last seen up EUR 2.05 higher at EUR 98.55/MWh.
Market participants saw the rise in gas prices due to unplanned outages in Norway as the main driver for German power today.
The benchmark front-month gas contract…