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POWER: EU Mid-Day Power Summary: CWE January Power Rise on Gas, Cooler Temps

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CWE front-month power is climbing sharply today to be supported by higher EU gas prices, with temperatures in NW Europe set to flip below the seasonal average in early January. Higher emissions costs amid low wind estimated for most of this week are also adding upward pressure.

  • Nordic Base Power JAN 25 up 1% at 50.75 EUR/MWh
  • France Base Power JAN 25 up 5% at 100.69 EUR/MWh
  • Germany Base Power JAN 25 up 4.7% at 115.88 EUR/MWh
  • EUA DEC 25 up 2.6% at 69.94 EUR/MT
  • TTF Gas JAN 25 up 2.5% at 45.215 EUR/MWh
  • Rotterdam Coal JAN 25 up 0.9% at 108.5 USD/MT
  • European gas is trading higher today, building on the strong support last week. Ukraine’s gas transit looks set to end, while cool weather outlooks and draws from storage have added support.
  • EU ETS December 2025 are trading higher today with forecasts suggesting lower wind output for the remainder of this week, with increases EU gas and coal adding further upward pressure.
  • EdF has extended the outage at its 1.3GW Cattenom 4 nuclear reactor to 31 December from 24 December.
  • Allocated capacity on the Jao monthly CBC auction for delivery in January 2025 in the French-Italian direction increased sharply on the year, with allocated capacity also dropping slightly.
  • The UK’s 620MW Hartlepool 1 nuclear reactor is now anticipated to return to the grid on 28 December compared to 27 December.
  • Orsted has moved closer to starting production at its 2.4GW Hornsea 4 offshore wind farm in the UK as Hitachi Energy has been selected to provide equipment for the plant.
  • Ireland’s onshore wind capacity surged in 2024, with additions reaching 211MW by December and the country’s total commissioned capacity now exceeding 5GW.
  • Fingrid will boost reserve procurement volumes for frequency-controlled disturbance products starting 1 January 2025 to address growing electricity system fluctuations.
  • Svenska kraftnat recently fixed an error in the price calculation algorithm for the mFRR capacity market, which was discovered on 20 December, with the error likely impacting Sweden’s market prices for both the up- and down-regulation.
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CWE front-month power is climbing sharply today to be supported by higher EU gas prices, with temperatures in NW Europe set to flip below the seasonal average in early January. Higher emissions costs amid low wind estimated for most of this week are also adding upward pressure.

  • Nordic Base Power JAN 25 up 1% at 50.75 EUR/MWh
  • France Base Power JAN 25 up 5% at 100.69 EUR/MWh
  • Germany Base Power JAN 25 up 4.7% at 115.88 EUR/MWh
  • EUA DEC 25 up 2.6% at 69.94 EUR/MT
  • TTF Gas JAN 25 up 2.5% at 45.215 EUR/MWh
  • Rotterdam Coal JAN 25 up 0.9% at 108.5 USD/MT
  • European gas is trading higher today, building on the strong support last week. Ukraine’s gas transit looks set to end, while cool weather outlooks and draws from storage have added support.
  • EU ETS December 2025 are trading higher today with forecasts suggesting lower wind output for the remainder of this week, with increases EU gas and coal adding further upward pressure.
  • EdF has extended the outage at its 1.3GW Cattenom 4 nuclear reactor to 31 December from 24 December.
  • Allocated capacity on the Jao monthly CBC auction for delivery in January 2025 in the French-Italian direction increased sharply on the year, with allocated capacity also dropping slightly.
  • The UK’s 620MW Hartlepool 1 nuclear reactor is now anticipated to return to the grid on 28 December compared to 27 December.
  • Orsted has moved closer to starting production at its 2.4GW Hornsea 4 offshore wind farm in the UK as Hitachi Energy has been selected to provide equipment for the plant.
  • Ireland’s onshore wind capacity surged in 2024, with additions reaching 211MW by December and the country’s total commissioned capacity now exceeding 5GW.
  • Fingrid will boost reserve procurement volumes for frequency-controlled disturbance products starting 1 January 2025 to address growing electricity system fluctuations.
  • Svenska kraftnat recently fixed an error in the price calculation algorithm for the mFRR capacity market, which was discovered on 20 December, with the error likely impacting Sweden’s market prices for both the up- and down-regulation.