MNI China Daily Summary: Tuesday, December 24

MNI: PBOC Net Drains CNY291.3 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Tues; -2.11% Y/Y

MNI China Daily Summary: Monday, December 23

MNI: China Steel Demand Seen Falling Next Year

MNI: China CFETS Yuan Index Up 0.83% In Week of Dec 20

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

MNI: US DEC PHILADELPHIA FED NONMFG INDEX -6

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

POWER: End of Day Power Summary: CWE Holds Onto Losses

POWER
BulletPower BulletsEnergy BulletsCommodities

The German and French front month futures have held on to losses from the midday session as the TTF equivalent remained red, with declines in emissions prices further weighing on the contracts. The FR-DE Jan 25 discount is currently at its lowest since 9 December at €14.10/MWh at the time of writing, with average temperatures in Dusseldorf revised up for some days compared to a mostly sustained downward revision in Paris.

  • France Base Power JAN 25 down 5.2% at 82.55 EUR/MWh
  • Germany Base Power JAN 25 down 5.1% at 96.65 EUR/MWh
  • EUA DEC 24 down 1.8% at 63.24 EUR/MT
  • TTF Gas JAN 25 down 3.6% at 39.75 EUR/MWh
  • Rotterdam Coal JAN 25 down 1.6% at 107.4 USD/MT
  • The TTF has continued to trade in the red as downward pressure has been placed by weaker demand expectations, due to warmer, windier weather, and the potential for higher-than-expected gas supplies – owing to optimism by Turkstream's booked capacity for January at 2.8mcm/d.
  • EU ETS Dec24 remain down as above normal temperatures, and falling gas and coal prices have weighed down the contract ahead of its expiry.
  • The EIB will provide a €243mn loan to ERG Group to support 270MW of renewable energy projects across Italy, France, and Germany, with the works to be completed by 2025.
  • The Epex Spot Exchange Council has approved a mandate to enhance fallback measures for electricity markets during decoupling scenarios, with aim to strengthen the EU market coupling process.
  • German gas-fired power generation so far this month is on track to be the highest for any month since at least 2024 and 2023. However, seasonally lower demand paired with forecasts for above-normal temperatures and high wind output may weigh on German gas-fired output for the remainder of the month.
  • Renewables accounted for 55% of Germany’s power demand in 2024, up from 53% in 2023 due to increased output from offshore wind and solar PV.
  • Italy’s government plans to extend power distribution concessions for Italy’s utilities in return for new investment in the country’s electricity grid infrastructure.
  • Polish PEJ has chosen BNP Paribas France and KPMG Advisory as advisors to assist in securing debt financing for Poland's first nuclear power plant.
  • The Swedish government has unveiled new regulations to streamline the construction and use of internal electricity grids, removing the need for special permits under the Electricity Act.
  • The unplanned outage on the 1.4GW NorthSea Link power interconnector between the UK and Norway (NO2) has returned 9h earlier on Monday at 15:00CET.
  • Romania has allocated 1.5GW of renewable energy projects via a tender through an EU-funded CfD scheme.

 

414 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The German and French front month futures have held on to losses from the midday session as the TTF equivalent remained red, with declines in emissions prices further weighing on the contracts. The FR-DE Jan 25 discount is currently at its lowest since 9 December at €14.10/MWh at the time of writing, with average temperatures in Dusseldorf revised up for some days compared to a mostly sustained downward revision in Paris.

  • France Base Power JAN 25 down 5.2% at 82.55 EUR/MWh
  • Germany Base Power JAN 25 down 5.1% at 96.65 EUR/MWh
  • EUA DEC 24 down 1.8% at 63.24 EUR/MT
  • TTF Gas JAN 25 down 3.6% at 39.75 EUR/MWh
  • Rotterdam Coal JAN 25 down 1.6% at 107.4 USD/MT
  • The TTF has continued to trade in the red as downward pressure has been placed by weaker demand expectations, due to warmer, windier weather, and the potential for higher-than-expected gas supplies – owing to optimism by Turkstream's booked capacity for January at 2.8mcm/d.
  • EU ETS Dec24 remain down as above normal temperatures, and falling gas and coal prices have weighed down the contract ahead of its expiry.
  • The EIB will provide a €243mn loan to ERG Group to support 270MW of renewable energy projects across Italy, France, and Germany, with the works to be completed by 2025.
  • The Epex Spot Exchange Council has approved a mandate to enhance fallback measures for electricity markets during decoupling scenarios, with aim to strengthen the EU market coupling process.
  • German gas-fired power generation so far this month is on track to be the highest for any month since at least 2024 and 2023. However, seasonally lower demand paired with forecasts for above-normal temperatures and high wind output may weigh on German gas-fired output for the remainder of the month.
  • Renewables accounted for 55% of Germany’s power demand in 2024, up from 53% in 2023 due to increased output from offshore wind and solar PV.
  • Italy’s government plans to extend power distribution concessions for Italy’s utilities in return for new investment in the country’s electricity grid infrastructure.
  • Polish PEJ has chosen BNP Paribas France and KPMG Advisory as advisors to assist in securing debt financing for Poland's first nuclear power plant.
  • The Swedish government has unveiled new regulations to streamline the construction and use of internal electricity grids, removing the need for special permits under the Electricity Act.
  • The unplanned outage on the 1.4GW NorthSea Link power interconnector between the UK and Norway (NO2) has returned 9h earlier on Monday at 15:00CET.
  • Romania has allocated 1.5GW of renewable energy projects via a tender through an EU-funded CfD scheme.