Directional impact on forecast:
Bullish for continental hub prices
Generators using nuclear power, hydropower and renewables are the obvious winners from the recent surge in the price of EU carbon allowances (EUAs), but gas may also benefit if the trend continues.
Prices for EUAs have risen sharply since the beginning of the month, in line with stronger power and fuel prices and amid an easing of fears over a hard Brexit.
The benchmark December 2019 contract for EUAs traded above €27 per...