MNI: PBOC Net Injects CNY8 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1196 Fri; -1.41% Y/Y

CHINA PBOC CONDUCTS CNY10 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1196 FRI VS 7.1192

MNI China Daily Summary: Thursday, June 20

MNI: PBOC Net Injects CNY18 Bln Via OMO Thu; Rates Unchanged

Public sector finances also better-than-expected

Retail sales surprises positively - but little monpol impact

MNI: UK MAY PSNCR GBP18.14 BN

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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

End of Day Power Summary: France June Power Rebounds to Six-Day High

POWER
Homepagemarkets-real-timeBullet

The CWE June 2024 power base-load contracts have all remained higher on the day towards the end of the session, with the French M1 contract reaching a six-day high as European gas and coal prices have risen, with EU ETS cost adding additional support.

  • France June 24 up 8.12% at €40.10/MWh.
  • German June 24 up 6.93% at €71.41/MWh.
  • Spanish June 24 up 4.25% at €49.75/MWh.
  • Italian June 24 up 4.13% at €95.65/MWh.
  • EU ETS Dec 24 up 4.78% at €74.07/t.
  • TTF Gas June 24 up 3.66% at €31.895/MWh.
  • Rotterdam Coal June 24 up 3.2% at $112.75/t.
  • TTF front month has built on last-week’s gains with support from geopolitical risks and Norwegian supply outages.
  • The French-German discount has widened slightly from the previous session to be at €31.15/MWh compared to €29.69/MWh on 17 May.
  • The German Cal 2025 power base-load contract also widened the premium to the French equivalent to the highest since 16 April today, as gains in the wider European energy complex supported the Germany curve due to its fossil-fuel intensive power mix.
  • EU carbon allowances for December 24 delivery reached the highest since 10 May, supported by gains in the wider European energy complex and forecasts for low wind power output, supporting fossil-fuel generation.
  • Rhine water levels at the Kaub measuring point rose by 1.67m in the past three days to 4.18m as of Monday, the highest since 9 January. Much of the needed hard coal is transported from ARA ports by barges to coal-fired plants.
  • German-based firm EnerState has sent a request to Bosnia’s environmental ministry to begin a preliminary EIA for a 100MW PV farm in the country, according to Bloomberg.
  • Italian gas-fired generation has fallen by around 25% on the year in May, with coal-fired output down 57%. But hydro and solar output has increased by 27% and 33% year-on-year, data from Entso-E show.
  • Poland’s June 2024 baseload power contract has rebounded to a six-session high on Monday.
  • Czech renewable investment firm Woodburn Capital Partners will introduce PPAs to the Croatian market.
  • The UK government has stood its ground on prioritising using the highest quality land for food production rather than developing PV power plants.
  • Firms ParkWind and ESB have inched closer to constructing their 375MW Oriel offshore wind project in Ireland
  • Renewable developer Fotowatio Renewable Ventures (FRV) will develop 600MW of Finnish PV after entering into a partnership with Finland’s Will & Must, FRV said.
383 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 CWE June 2024 power base-load contracts have all remained higher on the day towards the end of the session, with the French M1 contract reaching a six-day high as European gas and coal prices have risen, with EU ETS cost adding additional support.

  • France June 24 up 8.12% at €40.10/MWh.
  • German June 24 up 6.93% at €71.41/MWh.
  • Spanish June 24 up 4.25% at €49.75/MWh.
  • Italian June 24 up 4.13% at €95.65/MWh.
  • EU ETS Dec 24 up 4.78% at €74.07/t.
  • TTF Gas June 24 up 3.66% at €31.895/MWh.
  • Rotterdam Coal June 24 up 3.2% at $112.75/t.
  • TTF front month has built on last-week’s gains with support from geopolitical risks and Norwegian supply outages.
  • The French-German discount has widened slightly from the previous session to be at €31.15/MWh compared to €29.69/MWh on 17 May.
  • The German Cal 2025 power base-load contract also widened the premium to the French equivalent to the highest since 16 April today, as gains in the wider European energy complex supported the Germany curve due to its fossil-fuel intensive power mix.
  • EU carbon allowances for December 24 delivery reached the highest since 10 May, supported by gains in the wider European energy complex and forecasts for low wind power output, supporting fossil-fuel generation.
  • Rhine water levels at the Kaub measuring point rose by 1.67m in the past three days to 4.18m as of Monday, the highest since 9 January. Much of the needed hard coal is transported from ARA ports by barges to coal-fired plants.
  • German-based firm EnerState has sent a request to Bosnia’s environmental ministry to begin a preliminary EIA for a 100MW PV farm in the country, according to Bloomberg.
  • Italian gas-fired generation has fallen by around 25% on the year in May, with coal-fired output down 57%. But hydro and solar output has increased by 27% and 33% year-on-year, data from Entso-E show.
  • Poland’s June 2024 baseload power contract has rebounded to a six-session high on Monday.
  • Czech renewable investment firm Woodburn Capital Partners will introduce PPAs to the Croatian market.
  • The UK government has stood its ground on prioritising using the highest quality land for food production rather than developing PV power plants.
  • Firms ParkWind and ESB have inched closer to constructing their 375MW Oriel offshore wind project in Ireland
  • Renewable developer Fotowatio Renewable Ventures (FRV) will develop 600MW of Finnish PV after entering into a partnership with Finland’s Will & Must, FRV said.