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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 30) rebounded to climb to a fresh yearly high so far in 2024 – surpassing the previous high in week 28 – to end the week at 3,124GWh, RTE data showed.
- French hydro stocks are now at around 87% of capacity, with full capacity estimated at around 3,591GWh. Stocks jumped 23GWh on the week compared to a 2.4GWh decline in week 29.
- Reservoir levels continued to be above the same week in 2021-23 and widened the surplus to the same week last year to 123GWh from 87GWh in the previous week.
- Average French power demand last week dropped to about 42.65GW from 43.03GW in week 29 but slightly higher compared to 42.3GW consumed in week 28.
- Average hydropower generation in France from water reservoir sources last week was at 1.52GW lower than 1.62GW in week 29 and 1.96GW the week prior.
- Solar output averaged 4.29GW in week 30 – unchanged on the week.
- Nuclear generation in France was at 40.33GW sharply up from 38.80GW in week 29 and 37.7GW in week 28 – easing some pressure on hydro stocks.
- Stocks could be weighed on this week as average temperatures in Paris over 1-2 August are anticipated between 21.4-22.4C – above the 30-year norm of around 20.7C, ECMWF show. Max temperatures are expected between 24.4-33.20 over 30 July-7 August – likely spurring cooling demand.
- And France’s hydrological balance has been revised down by as much as 84GWh on 11 August, with the balance due to end at +2,993GWh on 13 August compared to +3,274GWh on 29 July.
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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