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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
Germany has flipped back to a net import position to the Netherlands so far in June, after being at a small net export position in May, despite average German PV and onshore wind remaining firm on the month, while strong gas and lignite output are supporting power prices. The trend could continue in July as Germany is currently at a premium to the Dutch equivalent.
- German net imports from the Netherlands have averaged around 583MW over 1-13 June, switching from net exports of around 7MW across May. This the highest net imports so far in 2024.
- Germany has been a net importer between the hours of 05:00-21:00 CET with the country flipping to a net exporter for the remaining hours of the day.
- This is slightly different from May when Germany was at a net export position for most hours during the day, only flipping for hours 10:00-17:00 CET.
- Onshore wind output in Germany has averaged about 8.75GW so far this month from 8.31GW in May, while PV generation has averaged 12GW compared to 11.66GW in May.
- But gas generation has averaged 4.71GW in June compared to 4.76GW in the previous month, with lignite output having increased to around 7GW so far in June from 6.33GW in May and 5.97GW in April.
- Germany could remain at a net import position to the Netherlands next month as the German July contract is at a €6.22/MWh premium to the Dutch equivalent.
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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