Oct 1, 2025
Daily (01.10.2025): European power prices plunged on Tuesday following 15-minute market settlement switch.
Crude oil prices extended losses on Tuesday due to the anticipation of a supply glut, fuelled by potential OPEC+ production hikes and the resumption of Kurdish exports via Turkey. Investors also considered the impact of a possible Gaza ceasefire under a US–Israel peace plan, though lingering geopolitical risks offered some support. Hence, Brent crude dropped by 1.4% to around $67 per barrel, while WTI crude gave back 1.7% to settle at $62.37 per barrel.
Milder 45-day weather forecasts for Northwest Europe and solid supply fundamentals weighed on British gas prices on Tuesday. Hence, the NBP spot price slumped by nearly 5% to 76 p/therm, while the Winter 2025 delivery contract dipped by 2.6% to 76.66 p/therm, with European storage levels near 83% of capacity.
European spot electricity prices plunged on Tuesday, following the introduction of 15-minute settlement intervals in the market. The German day-ahead power price slumped by 14% to 116.57 EUR/MWh, while the French equivalent tumbled by 15% to 51.07 EUR/MWh.
On the forward curve, prices eased amid a broadly bearish energy complex. The German 2026 delivery contract lost 1.7% to 85.10 EUR/MWh, while the French equivalent dropped by 1.5% to 55.78 EUR/MWh.
The deadline for submitting allowances for last year’s emissions reduced near-term demand, renewing downward pressure on carbon prices. As a result, European carbon prices declined on Tuesday, with the EUAs expiring in Dec-2025 falling by 1.4% to 75.72 EUR/tonne.
Milder 45-day weather forecasts for Northwest Europe and solid supply fundamentals weighed on British gas prices on Tuesday. Hence, the NBP spot price slumped by nearly 5% to 76 p/therm, while the Winter 2025 delivery contract dipped by 2.6% to 76.66 p/therm, with European storage levels near 83% of capacity.
European spot electricity prices plunged on Tuesday, following the introduction of 15-minute settlement intervals in the market. The German day-ahead power price slumped by 14% to 116.57 EUR/MWh, while the French equivalent tumbled by 15% to 51.07 EUR/MWh.
On the forward curve, prices eased amid a broadly bearish energy complex. The German 2026 delivery contract lost 1.7% to 85.10 EUR/MWh, while the French equivalent dropped by 1.5% to 55.78 EUR/MWh.
The deadline for submitting allowances for last year’s emissions reduced near-term demand, renewing downward pressure on carbon prices. As a result, European carbon prices declined on Tuesday, with the EUAs expiring in Dec-2025 falling by 1.4% to 75.72 EUR/tonne.