MNI BOK WATCH: More Evidence Needed To Cut Rates, Says Rhee

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

CPI Details Show Disinflation Tapering Off for High-Rate Items (2/2)

CPI Details Show Disinflation Tapering Off for High-Rate Items (1/2)

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

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

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

End of Day Power Summary: German Front-Month at Highest Since Mid-January

POWER
Homepagemarkets-real-timeBullet

The German M1 2024 power base-load contract increased for the fifth consecutive trading session to reach its highest since 15 January, following similar upward movements in the European gas and EU ETS markets. France has climbed even higher amid upward revisions of maximum temperatures - leading to increasing cooling demand next week, with low wind generation in NW Europe

  • German M1 24 up 3.05% at €77.03/MWh.
  • France M1 24 up 8% at €43.85/MWh.
  • TTF Gas June 24 up 5.08% at €34.68/MWh.
  • EU ETS Dec 24 up 0.58% at €76.69/t CO2e.
  • Rotterdam Coal June 24 down just 0.3% at $112.75/t
  • In Germany, Lausitz Energie’s KW Boxberg Block N 500MW lignite plant will be offline from Friday morning until Sunday evening for planned works, EEX remit data showed today.
  • German solar power generation is forecast to rise by 37% year on year this summer according to BNEF, as Germany continues to add new solar PV capacity at a fast pace, which will likely increase the number of negative prices.
  • Germany’s economy industry is planning to lobby for tighter EU rules for oversight of construction and sustainable products ahead of the European elections according to a document seen by Bloomberg.
  • Investment funds decreased long positioning in ICE German power futures fell slightly last week, with net short positioning increasing to the most bearish since 26 April, according to the commitment of trader’s data for the week of 17 May.
  • EU ETS Dec 24 prices removed most of the earlier gains to edge only slightly higher in a choppy session. The latest Commitment of Traders data showing investment funds net short positioning in EU ETS futures turning the most bearish since early May.
  • French firm TotalEnergies is targeting 35GW of renewable capacity by 2025 and 100GW or more by 2030 as a part of its energy transition and renewable expansion plans, according to Bloomberg.
  • European power grid investment must double by 2030 and triple by 2040 from current investment for the EU to meet its net zero targets, according to Bloomberg.
  • Denmark’s 254MW unit 1 at the 820MW Avedoreværket biomass power plant has had its unplanned maintenance extended by one day 23 May, according to latest Remit data.
  • The Norwegian energy minister will launch a public inquiry on nuclear power to asses if the technology could meet the country’s future power demand, according to Montel.
378 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 M1 2024 power base-load contract increased for the fifth consecutive trading session to reach its highest since 15 January, following similar upward movements in the European gas and EU ETS markets. France has climbed even higher amid upward revisions of maximum temperatures - leading to increasing cooling demand next week, with low wind generation in NW Europe

  • German M1 24 up 3.05% at €77.03/MWh.
  • France M1 24 up 8% at €43.85/MWh.
  • TTF Gas June 24 up 5.08% at €34.68/MWh.
  • EU ETS Dec 24 up 0.58% at €76.69/t CO2e.
  • Rotterdam Coal June 24 down just 0.3% at $112.75/t
  • In Germany, Lausitz Energie’s KW Boxberg Block N 500MW lignite plant will be offline from Friday morning until Sunday evening for planned works, EEX remit data showed today.
  • German solar power generation is forecast to rise by 37% year on year this summer according to BNEF, as Germany continues to add new solar PV capacity at a fast pace, which will likely increase the number of negative prices.
  • Germany’s economy industry is planning to lobby for tighter EU rules for oversight of construction and sustainable products ahead of the European elections according to a document seen by Bloomberg.
  • Investment funds decreased long positioning in ICE German power futures fell slightly last week, with net short positioning increasing to the most bearish since 26 April, according to the commitment of trader’s data for the week of 17 May.
  • EU ETS Dec 24 prices removed most of the earlier gains to edge only slightly higher in a choppy session. The latest Commitment of Traders data showing investment funds net short positioning in EU ETS futures turning the most bearish since early May.
  • French firm TotalEnergies is targeting 35GW of renewable capacity by 2025 and 100GW or more by 2030 as a part of its energy transition and renewable expansion plans, according to Bloomberg.
  • European power grid investment must double by 2030 and triple by 2040 from current investment for the EU to meet its net zero targets, according to Bloomberg.
  • Denmark’s 254MW unit 1 at the 820MW Avedoreværket biomass power plant has had its unplanned maintenance extended by one day 23 May, according to latest Remit data.
  • The Norwegian energy minister will launch a public inquiry on nuclear power to asses if the technology could meet the country’s future power demand, according to Montel.