The main effect of the drop in German baseload power prices was seen in the Calendar year contracts at the main Continental hub, the Dutch TTF, where Call 11 ticked down to Eur20.00/MWh and Cal 12 softened a touch to Eur22.00/MWh.
The most trade in the Continental markets was seen on the front month contract, which traded rangebound at most hubs, though. This meant that it reached Eur18.45/MWh at 1200 London time on both German markets, NetConnect Germany and GASPOOL, and at main French hub, PEG Nord, unchanged from Monday's closing levels.
At the TTF, October moved just to the positive side, trading at Eur18.30/MWh at 1200 London time, up 5 euro cent on the previous day's close.
On the prompt, moves were also small. The TTF and PEG Nord both shed 10 euro cent, reaching Eur19.10/MWh and Eur18.95/MWh.
This made them the top and bottom of the Continental European prompt markets.
The TTF prompt is strong because the UK-Belgium Interconnector pipeline is out of action for scheduled maintenance. The French day-ahead is being maintained lower than usual by supplies of gas intended for Italy that have been stranded by the continuing outage of the Swiss Transitgas pipeline.
The day-ahead contract at the two German hubs moved in the opposite direction, gaining 10 euro cent against Monday's settle and trading at 1200 on both markets at Eur19.05/MWh.
China Chemical Weekly: http://news.chemnet.com/en/detail-1411716.html
