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POWER: CWE Front-Week Power Slumps on Warm, Windy Weather

POWER

CWE front-week power base-load contracts are pulling back today, with forecasts suggesting mean temperatures above the seasonal average and windy conditions. The German front-week power contract is currently trading at a €3.54/MWh discount to the French market. 

  • France Base Power Week 2 down 11.2% at 78 EUR/MWh
  • Germany Base Power Week 2 down 12.2% at 74.46 EUR/MWh
  • The latest BBG 6-10 day weather forecast for Dusseldorf estimates mean temperatures at 5C to 8.9C next week, above the seasonal average for all of next week.
  • German power demand is forecast average 57.7GW next week, compared with the seasonal average 60.1GW according to Reuters’ GFS forecast.
  • Wind output in Germany is forecast between 22.06GW and 42.75GW during base-load hours next week, equivalent to load factors of 34-66% according to SpotRenewables.
  • The latest BBG 6-10 day weather forecast for Paris suggested mean temperatures between 3.3C and 7.8C, with most days above the seasonal average.
  • Peak power demand in France is forecast between 65.8GW to 74.4GW during 16 to 21 December, with peak demand expected to be the highest on Monday 16 December, RTE data showed.
  • Wind output in Germany is forecast between 2.4GW and 14.9GW during base-load hours on 16-19 December, equivalent to load factors of 12-75% according to SpotRenewables. 

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