On Monday, the day-ahead closed at €46/MWh on the over-the-counter market, a €6.61/MWh premium to the settlement on the Epex spot exchange. The contract defied surging wind levels forecasts, as the OTC market followed firmer French spot price ahead of a scheduled strike on Tuesday. Other nearby contracts recorded sharp losses. The week-ahead shed €0.50/MWh while the German October fell to a six-week low.

On Monday, the German year-ahead contract shed value, closing at a two-week low and widening its spread to 2012, as curve contracts declined across the board in response to a bearish prompt market and the government’s ruling on nuclear extensions.