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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
French hydropower stocks last week (week 28) increased by 73GWh from the previous week, albeit slowing the rise for the fourth consecutive week, to end the week at 3,103GWh of capacity, RTE data showed.
- French hydro stocks reached a fresh yearly high last week and have now been climbing since week 18 of this year. Last week hydro stocks were at 3,029GWh of capacity.
- Reservoir levels continue to be above the same week in 2021-23 but are only at a slight surplus on the year.
- Average French power demand last week was at around 43.7GW compared to around 42.6GW the week prior.
- Average hydropower generation in France from water reservoir sources last week was at 1.96GW compared to 1.9GW in week 27.
- Nuclear generation in France was at 37.7GW up from 34.7GW in week 27 – easing pressure on hydro stocks.
- Forecasts suggested precipitation in France will be below the seasonal norm of around 1.6mm over the majority of the days from 18-26 July – only slightly being above over 19-21 July, latest ECMWF forecast show. This could weigh down hydro stocks in the region.
- But EdF is anticipated to reconnect its 1.31GW Golfech 2 and 910MW Blayais 1 nuclear units over 22-21 July, according to Bbg – which could increase baseload generation and reduce the need for hydropower.
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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