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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.
POWER
Average prices of European power purchase agreements (PPAs) have moved up slightly so far in 2Q24 compared to the previous quarter. However, prices are sharply below costs for the same quarter in 2023-22, data from energy pricing firm Pexapark show. In the short term, PPA prices could be supported today amid increases in the energy complex.
- EU PPA prices rose to an average of €48.83/MWh so far this quarter, up from €44.36/MWh across the 1Q24 – as the TTF front month contract has averaged about €32.306/MWh so far this quarter compared to €27.55/MWh averaged in the previous.
- Despite this, EU PPA prices are significantly lower on the year, with average prices in 2Q23 at about €59.05/MWh and in 2Q22 averaging €90.79/MWh – amid the energy crisis.
- EU PPA prices in 3Q24 could remain firm from the previous quarter, with prices in 3Q23 averaging €55.55/MWh compared to €59.05/MWh in 2Q23.
- Closer in, EU PPA prices closed at €50.07/MWh on 4 June – down by €0.78/MWh from the previous day.
- PPA Prices could be supported today amid price increases in TTF, emissions and German power.
- TTF Gas JUL 24 up 1.6% at 33.905 EUR/MWh
- EUA DEC 24 up 0.5% at 72.19 EUR/MT
- Germany Base Pwr JUL 24 up 1% at 76.45 EUR/MWh
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.
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