EUROPE POWER-German power curve prices rise on gas and oil gains
April 2 (Reuters) - German curve power contracts rose on Thursday morning, following gains in gas and oil markets after President Donald Trump said the U.S. would continue attacks on Iran, increasing fears of prolonged disruptions to energy supplies.
The German year-ahead baseload TRDEBYc1 was up 1 euro at 92.75 euros/MWh according to LSEG data at 1012 GMT.
The German May baseload contract TRDEMc1 was up 0.65 euro at 83.50 euros/MWh.
The German June baseload contract TRDEMc2 was up 0.65 euro at 89.95 euros/MWh.
Gas-dependent Germany is very exposed to developments in the European gas market.
The benchmark Dutch front-month TTF gas price was up around 4% at 49.40 euros/MWh.
Oil prices LCOc1 rose more than 7% on Thursday to over $108 per barrel.
Spot power prices in Germany were expected to fall on Thursday, with the Easter holiday leading to closures and reduced demand across the continent over the next four days.
Germany is expected to export power for most hours during Easter, LSEG analysts said.
In the European carbon market CFI2Zc1, the benchmark contract fell 1.57 euro to 73.09 euros a metric ton.
The European Commission proposed tweaks to the EU's emissions trading system on Wednesday to try to avoid volatile carbon prices, after pressure from governments including Italy to amend the system to curb soaring energy prices.
