January 27, 2025 16:43 GMT
POWER: End of Day Power Summary: French Front-Year Falls to Lowest Since 2021
POWER
The French front-year power contract is ending the session in red territory, dropping to its lowest price since 7 June 2021 amid downward movements in both the TTF and emissions markets – also dropping costs in neighbouring Germany. However, a downward revision in average temperatures in NW Europe leading to cooling temperatures heading into next from the previous week is limiting losses.
- France Power Front-Year down 2.4% at 65.59 EUR/MWh
- German Power Front-Year down 2.4% at 91.95 EUR/MWh
- EUA DEC 25 down 3% at 79.25 EUR/MT
- TTF Gas FEB 25 down 3.7% at 47.875 EUR/MWh
- Rotterdam Coal FEB 25 down 1% at 106.5 USD/MT
- TTF is extending losses from the midday session as the return of the US Freeport LNG terminal and Norway's Hammerfest LNG plant has bolstered supply. Reduced storage withdrawals in recent days also place further downward pressure.
- Meanwhile, EU ETS Dec24 continues to track a similar downward trend as TTF and EU coal prices. However, lower wind next week – specifically in Germany – could increase residual load in the region and support fossil-fired power generation.
- Stockholm Exergi has been awarded over SEK20bn by Sweden’s Energy Agency for a maximum of 15-years for a planned bio-CCS plant in Värtan, Sweden.
- The UK is on track to fall 32GW short of its 2030 clean energy target as challenges such as market uncertainty and operational barriers continue to hinder progress.
- French wind power output reached a new record of 19.6GW Sunday night, Entso-E data showed, amid Storm Herminia.
- An unplanned outage has occurred on the 2.2-3.7GW power cable between Norway’s NO2- NO1 zones today, with the units curtailed until 28 January.
- An unplanned 334MW curtailment will occur at Poland’s 910MW Jaworzno 2 coal plant on 28 January due to operating conditions.
- The unplanned outage at the 1.01GW BritNed power link between the Netherlands and the UK has been shortened to 27 January from 29 January.
- EdF has extended planned maintenance at the 1.31GW Golfech 2 reactor, 910MW Blayais 3 reactor and the 880MW Bugey 4 reactor due to modulation.
- The 1.495GW Civaux 1 nuclear reactor in France will be offline for 24 hours from 28 January 00:00CET due to modulation.
- The 1.45GW UK-Denmark (DK1) power cable will have planned maintenance over 27 January-14 February, with the unit curtailed by 756MW during the period.
- Poland’s February edged down from its several-week high in the previous session on the back of price declines in emissions, with lower European coal prices also weighing down the product. Looking ahead, spot prices could be weighed down for 29 January delivery as wind output is expected to increase to a 56% load factor on that day compared to 22% on 28 January
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