Last year in Europe natural gas gained ground compared to coal as a result of the further reduction in the differential between Eua and switching prices – with a relative decrease in thermoelectric emissions compared to 2016 (-1%) – but in the first quarter of 2018 this trend has again reversed. This is underlined by the Gse in the usual Ets Auctions Report. He explained that the price of coal fell sharply during the period, while the price of gas rose, especially in spot prices in late February and early March due to particularly cold temperatures. The switching price in the first three months of 2018 has consequently grown to an average value of 26.60 euros and, despite the increase in the price of shares in the spot market (9.80 euros), the gap between the two fuels has widened, leading to an average Eua-SP spread in the quarter of 16.80 euros, compared to 5.3 euros in 2017.

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