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End of Day Summary: CWE June Falls to Resist TTF Rise, Tracks EU ETS

POWER
Homepagemarkets-real-timeBulletCEEMEA

Most CWE June power baseload power contracts remain down on the day shrugging off a slight rise in European gas and coal to instead track losses in emissions, with temperature forecast pointing to limited expectations of an uptick in cooling demand at the beginning of the month.

  • Germany Base Pwr JUN 24 down 0.6% at 71.5 EUR/MWh
  • France Base Pwr JUN 24 up 0.6% at 34.99 EUR/MWh
  • TTF Gas JUN 24 up 1% at 33.879 EUR/MWh
  • Rotterdam Coal JUN 24 up 2.5% at 114.5 USD/MT.
  • EUA DEC 24 down 1% at 73.86 EUR/MT
  • Average temperatures in Northwest Europe are anticipated to be slightly above the 30-year norm throughout the two-week forecast and are expected to reach maximum temperatures between 19-21C over 30 May-7 June, according to Bloomberg Model.
  • Germany’s negative power prices are likely to intensify before they will be disappearing eventually, Statkraft Germany said on Tuesday, cited by Montel.
  • Investment funds net short positions in ICE German power futures turned the most bearish since 26 April, according to the COT data for the week of 24 May.
  • Spanish firm Grenergy will start up its 250MW PV project in southern Spain in the coming months after entering into a supply agreement with manufacturer Ingeteam, the manufacturer said today.
  • Greek firm Mytilineos has signed two long-term PPAs with Singapore-based Keppel DC Reit to supply power from two PV farms to Keppel’s data centres in Ireland, according to Mytilineos.
  • The UK must overhaul its electricity network in order to reduce its emissions in line with national targets according to a Reuters report.
  • Poland’s 1.08GW Kozienice 4 B11 coal-fired unit has an unplanned outage maintenance from 30 May until 2 June, remit data showed.
  • Poland’s energy regulatory office URE and TSO PSE will introduce restrictions on the supply and consumption of power over 1 June 2024-31 May 2025, according to the regulator.
  • Nordic hydro stocks over 20-26 May (week 21) moved upward for the fourth consecutive week, albeit slowing on the week, as levels across the region increased, with stocks flipping to surplus to the 19-year average. Hydro reservoirs could be weighed on this week due above-normal temperature forecasts and the delayed restart of nuclear units.
  • European PPAs fell slightly on 28 May, after having rebounded on 27 May, according to energy pricing firm Pexapark, as losses in the energy complex from the previous session placed downward pressure. Gains in PPA Prices could be dented today amid mixed movements of prices in the energy complex
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Most CWE June power baseload power contracts remain down on the day shrugging off a slight rise in European gas and coal to instead track losses in emissions, with temperature forecast pointing to limited expectations of an uptick in cooling demand at the beginning of the month.

  • Germany Base Pwr JUN 24 down 0.6% at 71.5 EUR/MWh
  • France Base Pwr JUN 24 up 0.6% at 34.99 EUR/MWh
  • TTF Gas JUN 24 up 1% at 33.879 EUR/MWh
  • Rotterdam Coal JUN 24 up 2.5% at 114.5 USD/MT.
  • EUA DEC 24 down 1% at 73.86 EUR/MT
  • Average temperatures in Northwest Europe are anticipated to be slightly above the 30-year norm throughout the two-week forecast and are expected to reach maximum temperatures between 19-21C over 30 May-7 June, according to Bloomberg Model.
  • Germany’s negative power prices are likely to intensify before they will be disappearing eventually, Statkraft Germany said on Tuesday, cited by Montel.
  • Investment funds net short positions in ICE German power futures turned the most bearish since 26 April, according to the COT data for the week of 24 May.
  • Spanish firm Grenergy will start up its 250MW PV project in southern Spain in the coming months after entering into a supply agreement with manufacturer Ingeteam, the manufacturer said today.
  • Greek firm Mytilineos has signed two long-term PPAs with Singapore-based Keppel DC Reit to supply power from two PV farms to Keppel’s data centres in Ireland, according to Mytilineos.
  • The UK must overhaul its electricity network in order to reduce its emissions in line with national targets according to a Reuters report.
  • Poland’s 1.08GW Kozienice 4 B11 coal-fired unit has an unplanned outage maintenance from 30 May until 2 June, remit data showed.
  • Poland’s energy regulatory office URE and TSO PSE will introduce restrictions on the supply and consumption of power over 1 June 2024-31 May 2025, according to the regulator.
  • Nordic hydro stocks over 20-26 May (week 21) moved upward for the fourth consecutive week, albeit slowing on the week, as levels across the region increased, with stocks flipping to surplus to the 19-year average. Hydro reservoirs could be weighed on this week due above-normal temperature forecasts and the delayed restart of nuclear units.
  • European PPAs fell slightly on 28 May, after having rebounded on 27 May, according to energy pricing firm Pexapark, as losses in the energy complex from the previous session placed downward pressure. Gains in PPA Prices could be dented today amid mixed movements of prices in the energy complex