Gas Price Holds Steady

Contrary to previous weeks, last week saw above average wind power generation from Monday through Sunday in The Netherlands. Solar power generation was below average except during the weekend. Dutch power prices fell as low as -120 and -125 €/MWh on Saturday. Most European countries had to deal with a lot of renewable power which pushed down prices significantly during the solar hours. Power prices ended up being negative again during Sunday afternoon. The Dutch imbalance prices ended up being very negative as the grid had to deal with a surplus of power generation. Imbalance prices ended up between -1500 and -1600 €/MWh for 3 consecutive hours. TenneT eventually activated the incident reserve in downwards direction.
The average Dutch baseload price was 41.4 €/MWh, which was lower than the average weekly baseload prices over the last couple of months. Average weekly baseload prices primarily hovered around 60 €/MWh. The average day-ahead gas price fell by 1 euro and was 26.4 €/MWh.
Prices for the summer months showed similar movements: gas fell by 70 cents for May and June and settled just below 27 €/MWh. CO2 decreased by one euro and was 60.6 €/EUA by the end of the week. Dutch power for May settled at 47 €/MWh.

The gas price for 2025 remained almost unchanged, ultimately settling at 31.5 €/MWh. CO2 decreased by approximately one and a half euros, reaching 62.9 €/EUA. The Dutch power contract for next year decreased by around one and a half euros to 76.2 €/MWh. The clean spark spread for 2025 worsened by one euro, standing at -6.4 €/MWh. The clean dark spread improved slightly but remained significantly negative at -18 €/MWh.