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POWER: German February Power Pulls Back After Rally

POWER
CEEMEAEurozoneEnergy BulletsGermanyBulletPower BulletsCommodities

German February power is pulling back after Wednesday’s rally to the highest since late November. Losses in the energy complex and forecasts for slightly milder weather has weighed on the contract today. 

  • Germany Base Power FEB 25 down 1.4% at 123.6 EUR/MWh
  • EUA DEC 25 down 0.2% at 82.77 EUR/MT
  • TTF Gas FEB 25 down 0.4% at 50.95 EUR/MWh
  • German Spark Spreads M1  down 19.2% at 5.3849 EUR/MWh
  • TTF front month falls back from the highest since Oct. 2023 at €51.5/MWh yesterday as capacity reductions at Norway could ease in the coming days but with risk to storage withdrawals from cooler weather in the first week of February.
  • EU ETS December 2025 allowances are trending lower with losses in EU gas prices and a slight upward revision in temperature forecasts.
  • Wind output in Germany is forecast to decline to 12.45GW on Friday, down from 13.16GW on Thursday according to SpotRenewables. Wind output in Germany is forecast to remain low with output expected to pick from the end of next week.
  • The latest 6-10 day ECMWF weather forecast for Dusseldorf suggests mean temperatures have been slightly revised up with mean temperatures near normal at the end of the forecast period.
  • Mean temperatures in Dusseldorf are forecast to decline to 2.7C on Friday, down from 5.9C on Thursday and below the seasonal average of 3.1C.
  • Power demand in Germany is forecast to edge down to 60.25GW, down from 60.51GW on Thursday according to Bloomberg.
  • Residual load in Germany is forecast to edge higher to 43.69GWh/h on Friday. Up from 43.6GWh/h on Thursday according to Reuters.
  • Germany’s hydro balance has been revised lower on the day to end at -152GWh on 13 February, compared with 21GWh forecasted a day earlier.
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German February power is pulling back after Wednesday’s rally to the highest since late November. Losses in the energy complex and forecasts for slightly milder weather has weighed on the contract today. 

  • Germany Base Power FEB 25 down 1.4% at 123.6 EUR/MWh
  • EUA DEC 25 down 0.2% at 82.77 EUR/MT
  • TTF Gas FEB 25 down 0.4% at 50.95 EUR/MWh
  • German Spark Spreads M1  down 19.2% at 5.3849 EUR/MWh
  • TTF front month falls back from the highest since Oct. 2023 at €51.5/MWh yesterday as capacity reductions at Norway could ease in the coming days but with risk to storage withdrawals from cooler weather in the first week of February.
  • EU ETS December 2025 allowances are trending lower with losses in EU gas prices and a slight upward revision in temperature forecasts.
  • Wind output in Germany is forecast to decline to 12.45GW on Friday, down from 13.16GW on Thursday according to SpotRenewables. Wind output in Germany is forecast to remain low with output expected to pick from the end of next week.
  • The latest 6-10 day ECMWF weather forecast for Dusseldorf suggests mean temperatures have been slightly revised up with mean temperatures near normal at the end of the forecast period.
  • Mean temperatures in Dusseldorf are forecast to decline to 2.7C on Friday, down from 5.9C on Thursday and below the seasonal average of 3.1C.
  • Power demand in Germany is forecast to edge down to 60.25GW, down from 60.51GW on Thursday according to Bloomberg.
  • Residual load in Germany is forecast to edge higher to 43.69GWh/h on Friday. Up from 43.6GWh/h on Thursday according to Reuters.
  • Germany’s hydro balance has been revised lower on the day to end at -152GWh on 13 February, compared with 21GWh forecasted a day earlier.