Over the weekend the renewable generation forecast was revised downwards. We have seen the carbon price react to the prospect of lower amount of emission free power generation with the bellwether contract rising from the outset Monday 20 May.
The EUA Dec-24 contract closed 20 May above the 200-day moving average for the first time since August 2023 and an establishment above this level could be seen as bullish. Price is currently (intraday trading Tuesday 21 May) above the April (€74.90/t) and…
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