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POWER: German April Power Rises to Highest in Over Three Weeks

POWER
CEEMEAEurozoneEnergy BulletsGermanyBulletPower BulletsCommodities

German April power base load is trading higher today, closely tracking gains in EU gas prices, while forecasts for wind output remain mixed. 

  • Germany Base Power APR 25 up 3% at 83.55 EUR/MWh
  • EUA DEC 25 up 1.6% at 72.47 EUR/MT
  • TTF Gas APR 25 up 3.8% at 42.285 EUR/MWh
  • German Spark Spreads M1  up 8.9% at -11.9464 EUR/MWh
  • TTF rallies back to levels from late last week after a call between the US and Russia presidents failed to result in a ceasefire agreement. Gains are limited by warm weather through the coming weekend and recovering Norwegian gas supplies. Russia’s president Putin only agreed to limit attacks on Ukraine’s energy infrastructure, and an end to the war and sanctions is likely some way off.
  • EUAs Dec25 is trading higher with support from a rebound in EU gas prices, ahead of today’s COT data. The next Polish EUA CAP3 auction will clear today 11:00CET.
  • The latest two-week ECMWF weather forecast for Dusseldorf suggests mean temperatures will remain above normal until 26 March, before briefly turning cooler until 28 March, after which temperatures will rise back above normal.
  • Mean temperatures in Dusseldorf are forecast to rise to 10C on Thursday, up from 7C on Wednesday and above the seasonal average of 6.8C.
  • Wind output in Germany is forecast to rise to 5.38GW during base load on Thursday, from 4.56GW on Wednesday. Solar PV output is forecast to fall to 23.23GW during peak load on Thursday, down from 25.78GW on Wednesday according to SpotRenewables.
  • Power demand in Germany is forecast to decline to 57.08GW on Thursday, from 57.56GW on Wednesday according to Bloomberg.
  • Residual load in Germany is forecast to edge up to 40.66GWh/h on Thursday, from 40.06GWh/h on Wednesday according to Reuters.
  • Germany’s hydro balance has been revised slightly higher on the day to end at 0.00GWh on 2 April, from -25GWh a day earlier. 
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German April power base load is trading higher today, closely tracking gains in EU gas prices, while forecasts for wind output remain mixed. 

  • Germany Base Power APR 25 up 3% at 83.55 EUR/MWh
  • EUA DEC 25 up 1.6% at 72.47 EUR/MT
  • TTF Gas APR 25 up 3.8% at 42.285 EUR/MWh
  • German Spark Spreads M1  up 8.9% at -11.9464 EUR/MWh
  • TTF rallies back to levels from late last week after a call between the US and Russia presidents failed to result in a ceasefire agreement. Gains are limited by warm weather through the coming weekend and recovering Norwegian gas supplies. Russia’s president Putin only agreed to limit attacks on Ukraine’s energy infrastructure, and an end to the war and sanctions is likely some way off.
  • EUAs Dec25 is trading higher with support from a rebound in EU gas prices, ahead of today’s COT data. The next Polish EUA CAP3 auction will clear today 11:00CET.
  • The latest two-week ECMWF weather forecast for Dusseldorf suggests mean temperatures will remain above normal until 26 March, before briefly turning cooler until 28 March, after which temperatures will rise back above normal.
  • Mean temperatures in Dusseldorf are forecast to rise to 10C on Thursday, up from 7C on Wednesday and above the seasonal average of 6.8C.
  • Wind output in Germany is forecast to rise to 5.38GW during base load on Thursday, from 4.56GW on Wednesday. Solar PV output is forecast to fall to 23.23GW during peak load on Thursday, down from 25.78GW on Wednesday according to SpotRenewables.
  • Power demand in Germany is forecast to decline to 57.08GW on Thursday, from 57.56GW on Wednesday according to Bloomberg.
  • Residual load in Germany is forecast to edge up to 40.66GWh/h on Thursday, from 40.06GWh/h on Wednesday according to Reuters.
  • Germany’s hydro balance has been revised slightly higher on the day to end at 0.00GWh on 2 April, from -25GWh a day earlier.