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German front-year power rebounds on higher gas

Electricity

28 Sept 2023 12:12

Isaac Bah

Berlin

28 Sept 2023 12:12

(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…

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