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

German power futures are holding onto losses towards the end of the session amid sustained price falls in the European energy complex, with temperatures in NWE set to flip above the norm from 4 March. The French-German March discount dropped sharply on the day at €12.80/MWh at the time of writing from €16.14/MWh in the previous session.

• Nordic Base Power MAR 25 down 2.8% at 33.2 EUR/MWh
• France Base Power MAR 25 up 1.4% at 78.4 EUR/MWh
• Germany Base Power MAR 25 down 2.3% at 91.33 EUR/MWh
• EUA DEC 25 down 2.8% at 71.58 EUR/t CO2e
• TTF Gas MAR 25 down 7.3% at 43.69 EUR/MWh
• Rotterdam Coal MAR 25 down 3.2% at 94.25 USD/MT
• TTF continued to slide lower today, extending losses to early-Jan levels, on the back of pressure from mild weather forecast into early March, below normal storage withdrawals and with the potential that Ukraine peace negotiations could lead to lower supply risks.
• EU ETS Dec25 is also holding onto losses, reflecting price falls in EU gas and coal – bolstered by predictions of higher wind generation and warmer temperatures in Northwest Europe heading into next week.
• The Danish Energy Agency announced to give financial support for CO2-intensive companies that are most affected by the upcoming CO2 tax.
• Uniper said its accelerated plan to phase-out coal-fired power generation by 2029 is essential for the firm to achieve its emissions reduction targets in 2030 and its carbon neutrality target by 2040.
• Uniper has begun construction of solar projects in Hungary, Germany and the UK – a total capacity of 233MW –, with grid connections expected between 2026-27.
• German-French power price spreads are forecast to narrow to single digits by late 2026 as Germany accelerates its wind energy expansion and grid upgrades.
• Spanish hydropower reserves last week - calendar week 8 – declined for the third consecutive week by 0.1 percentage points to 57.9% of capacity.
• PGE has completed the installation of a 593MW gas turbine at its 880MW Nowy Rybnik combined cycle power plant, with the plant set to begin operations between late 2026 and early 2027.
• The EU PPA market recorded 25 deals in January 2025, reflecting a 7% month-on-month decrease from December 2024 at 27 deals. Disclosed volumes in January saw a sharp 62% drop compared to the previous month.
• UK energy groups have sent a letter to UK’s energy and business and trade secretaries warning against the introduction of zonal electricity prices in the UK as it would harm investment and increase power prices in parts of the country.