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POWER: EU Mid-Day Power Summary: CWE February Power Edges Lower

POWER
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CWE front-month power futures are edging lower today with a slight pullback in the energy complex and forecasts for milder weather. In contrast, Nordic February power is trading higher amid a sharp downward revision of Norway's hydro balance. 

  • Nordic Base Power FEB 25 up 2.9% at 37.25 EUR/MWh
  • France Base Power FEB 25 down 0.7% at 98.23 EUR/MWh
  • Germany Base Power FEB 25 down 0.4% at 104.11 EUR/MWh
  • EUA DEC 25 down 0.4% at 76.58 EUR/MT
  • TTF Gas FEB 25 down 0.2% at 48.185 EUR/MWh
  • TTF is edging lower with an upward revision in temperature forecasts, while the extension to the halt of Azerbaijan’s gas supply to Europe being supportive.
  • EU ETS December 2025 allowances are edging lower with downward pressure from EU gas prices and forecasts for wetter, windier weather.
  • The latest EU ETS CAP3 auction cleared slightly higher at €74.45/ton CO2e, compared with €74.40/ton CO2e in the previous auction, while switching to a discount to the futures contract.
  • French hydropower reserves last week slowed the weekly decline to end at 64.05% of capacity, compared with 64.3% the week before, narrowing the deficit to the five-year average.
  • The unplanned outage at EdF’s 1.495GW Civaux nuclear reactor has been extended by eight hours to end at 20:00CET on Tuesday.
  • France is far from ready to start building its planned six new nuclear reactors, president of France’s Court of Auditors, Pierre Moscovici said.
  • Germany’s 913MW Borkum Riffgrund 3 offshore wind farm has installed its last turbine, with commissioning expected within the year.
  • Swiss hydropower reserves last week declined to 46.40% of capacity, down from 49.6% the week before, widening the deficits to the five-and ten-year averages.
  • Costs to develop the UK’s planned 3.2GW Sizewell C nuclear power station are expected to reach close to £40bn, people close to the negotiations told the FT, compared with previous estimates of around £20bn.
  • The 500MW Greenlink power cable between the UK and Ireland will undergo power flow testing on 14 January, with testing only in the Irish-UK direction.
  • Spanish hydropower reserves last week increased to 52.6% of capacity, up from 51.7% of capacity.
  • NATO leaders from Baltic Sea nations called for enhanced security measures and increased cooperation following recent incidents of undersea infrastructure damage.
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CWE front-month power futures are edging lower today with a slight pullback in the energy complex and forecasts for milder weather. In contrast, Nordic February power is trading higher amid a sharp downward revision of Norway's hydro balance. 

  • Nordic Base Power FEB 25 up 2.9% at 37.25 EUR/MWh
  • France Base Power FEB 25 down 0.7% at 98.23 EUR/MWh
  • Germany Base Power FEB 25 down 0.4% at 104.11 EUR/MWh
  • EUA DEC 25 down 0.4% at 76.58 EUR/MT
  • TTF Gas FEB 25 down 0.2% at 48.185 EUR/MWh
  • TTF is edging lower with an upward revision in temperature forecasts, while the extension to the halt of Azerbaijan’s gas supply to Europe being supportive.
  • EU ETS December 2025 allowances are edging lower with downward pressure from EU gas prices and forecasts for wetter, windier weather.
  • The latest EU ETS CAP3 auction cleared slightly higher at €74.45/ton CO2e, compared with €74.40/ton CO2e in the previous auction, while switching to a discount to the futures contract.
  • French hydropower reserves last week slowed the weekly decline to end at 64.05% of capacity, compared with 64.3% the week before, narrowing the deficit to the five-year average.
  • The unplanned outage at EdF’s 1.495GW Civaux nuclear reactor has been extended by eight hours to end at 20:00CET on Tuesday.
  • France is far from ready to start building its planned six new nuclear reactors, president of France’s Court of Auditors, Pierre Moscovici said.
  • Germany’s 913MW Borkum Riffgrund 3 offshore wind farm has installed its last turbine, with commissioning expected within the year.
  • Swiss hydropower reserves last week declined to 46.40% of capacity, down from 49.6% the week before, widening the deficits to the five-and ten-year averages.
  • Costs to develop the UK’s planned 3.2GW Sizewell C nuclear power station are expected to reach close to £40bn, people close to the negotiations told the FT, compared with previous estimates of around £20bn.
  • The 500MW Greenlink power cable between the UK and Ireland will undergo power flow testing on 14 January, with testing only in the Irish-UK direction.
  • Spanish hydropower reserves last week increased to 52.6% of capacity, up from 51.7% of capacity.
  • NATO leaders from Baltic Sea nations called for enhanced security measures and increased cooperation following recent incidents of undersea infrastructure damage.