European power prices rose sharply Thursday on the near curve on the back of latest weath

er forecasts, with only Spain lagging behind as activity huddled in the back of the curve. 

French  power  prices  for  February  delivery  jumped  Eur3  ($3.42)  Thursday  morning  to 

Eur74.75/MWh  on  the  OTC  market,  with the German peer also adding more than Eur2 to 

trade at Eur61.05/MWh. 

"The coming weeks and for the front-month it's very bullish," a trader said, adding: "it's going 

to be colder." Latest weather forecast saw a sharp drop in temperatures, especially for week 

6, the trader said. 

Italian corresponding prices were seen last trading at Eur72.75/MWh up Eur2.25 from where 

EEX settled prices on Wednesday. 

However, Spanish equivalent prices were seen up less than a Eur1 on the day at Eur61.50/M

Wh as most of the activity in the market was concentrated in the far curve. Market participants

 in Spain were seen more focused on the far curve, with most of the activity focused on the 

fourth-quarter of 2018 and Cal 20 contract.