Daily (07.02.2025): European spot electricity prices decreased on Thursday as a result of increased renewable energy production.

Oil prices experienced a minor decline on Thursday, driven by worries about global trade disputes, particularly the intensifying trade tensions between the U.S. and China, which may hinder global GDP growth and decrease oil demand.

Consequently, Brent crude fell by 0.4%, closing at $74.29 per barrel. WTI crude decreased by 0.6%, settling at $70.61 per barrel.

British near-term gas prices rose on Thursday due to forecasts of colder weather and a surge in EU gas markets. NBP spot increased by 1%, closing at 135.65 p/therm. Additionally, the Sum 2025 delivery contract jumped by 2.4%, ending at 130.10 p/therm.

European spot power prices dropped on Thursday, with the German spot price plummeting by 19% to settle at 121.18 EUR/MWh, influenced by higher wind power generation and reduced demand. The French spot price fell by 9%, closing at 129.78 EUR/MWh, propelled by stronger solar and nuclear generation.

In contrast, Forward power contracts saw an increase, reflecting the positive momentum of gas and carbon prices. The German Cal-2026 contract rose by 1%, finishing at 99.12 EUR/MWh, while the French Cal-2026 surged by 1.9%, closing at 71.16 EUR/MWh.

European carbon prices continued to rise on Thursday, following upward movements in gas and power markets. The EUAs expiring in Dec-2025 increased by 1%, closing at 81.93 EUR/tonne.