The monthly Dutch electricity price contract is volatile, with gas prices and weather conditions in particular being the determining factors. Low solar and wind production and the high gas price were also behind the increased demand for coal in Europe in the fourth quarter of 2024. Nevertheless, there was downward pressure on the coal price. Ample global supply, relatively low demand in Asia and coal reserves in Europe explained this price trend.
In the day-ahead market, we see periods of dunkelflaute causing regular price spikes again this year. Water reservoirs in Scandinavia are well stocked, which has an impact on the Dutch electricity price due to interconnection cables. The EU ETS price is in a rising trend this year. In particular, demand for allowances has increased from the power sector. This is because the importance of gas and especially emission-intensive coal in the Dutch electricity supply is high during the winter months