Overall, German electricity consumption seems to slowly return to normal. However, there is no drastic jump in demand and commodity prices, in general, remain pretty stable.
In the second half of the month, German power front year still won around 3 EUR/MWh. This was also driven by rising CO2 prices. Also, Hurricane Laura reduced the gas and oil output in the US.
The participants of the enmacc market sentiment apparently underestimated the rise of prices towards the end of the month which resulted in around 33% of the tips being too bearish.
We congratulate the market sentiment winners in August on their correct predictions!
2x Markus Eberl – Stadtwerke Augsburg Energie GmbH
2x Alexander Knorn – FairEnergie GmbH
2x Marion Witthuhn – E.ON Energie Deutschland GmbH
Micha Abele – FairEnergie GmbH
Oliver Bodenmüller – Stadtwerke Karlsruhe GmbH
Mark Doenau – MITGAS Mitteldeutsche Gasversorgung GmbH
Thomas Engelhardt – TEAG Thüringer Energie AG
Jürg Furter – Eniwa AG
Josephine Hantschmann – envia Mitteldeutsche Energie AG
Stefan Hausammann – Eniwa AG
Mario Hilmer – ZVO Energie GmbH
Thomas Klein – Stadtwerke Bayreuth Energie und Wasser GmbH
Lena Letzner – EHA Energie-Handels-Gesellschaft mbH & Co. KG
Markus Möller – Energieversorgung Mittelrhein AG
Brigitte Reintinger – N-ERGIE Aktiengesellschaft
Peter Schumann – Energieversorgung Mittelrhein AG
Wilko vom Hagen – FairEnergie GmbH
Franziska Zimmer – Montana