MNI China Daily Summary: Thursday, March 13

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POWER: German Spot Power to Edge Up

POWER
CEEMEAEurozoneEnergy BulletsGermanyBulletPower BulletsCommodities

The German spot power index is expected to edge up, with higher power demand offsetting slightly higher wind output. German front-month power base load is pulling back, closely tracking moves in the energy complex. 

  • Germany Base Power MAR 25 down 1.3% at 92.31 EUR/MWh
  • EUA DEC 25 down 0.4% at 73.34 EUR/MT
  • TTF Gas MAR 25 down 0.8% at 46.77 EUR/MWh
  • TTF is drifting lower again today under pressure from mild weather forecast into early March and with potential that Ukraine peace negotiations could lead to lower supply risks.
  • EUAs Dec25 are edging lower, closely tracking moves in EU gas prices.
  • The next EU ETS CAP3 auction will clear today at 11:00 CET.
  • Wind output in Germany is forecast to edge up to 8.4GW during base load on Wednesday, from 7.97GW on Tuesday according to SpotRenewables.
  • The latest two-week ECMWF weather forecast for Dusseldorf suggests mean temperatures will remain above normal until 28 February, before turning cooler until 3 March, after which temperatures will rise back up.
  • Mean temperatures in Dusseldorf are forecast to decline to 7.7C on Wednesday, down from 9.1C on Tuesday and above the seasonal average of 4.9C.
  • Power demand in Germany is forecast to rise to 60.52GW on Wednesday, up from 59.86GW on Tuesday according to Bloomberg.
  • Residual load in Germany is forecast to edge higher to 48.57GWh/h on Wednesday, from 47.25GWh/h on Tuesday according to Reuters.
  • Germany’s hydro balance has been revised lower on the day to end at -185GWh on 11 March, compared with -167GWh a day earlier.
  • Capacity at the 600MW Baltic Cable between Sweden and Germany is curtailed by 198MW until Monday morning in an unplanned outage due. After that, the cable will undergo planned maintenance until 4 March.
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The German spot power index is expected to edge up, with higher power demand offsetting slightly higher wind output. German front-month power base load is pulling back, closely tracking moves in the energy complex. 

  • Germany Base Power MAR 25 down 1.3% at 92.31 EUR/MWh
  • EUA DEC 25 down 0.4% at 73.34 EUR/MT
  • TTF Gas MAR 25 down 0.8% at 46.77 EUR/MWh
  • TTF is drifting lower again today under pressure from mild weather forecast into early March and with potential that Ukraine peace negotiations could lead to lower supply risks.
  • EUAs Dec25 are edging lower, closely tracking moves in EU gas prices.
  • The next EU ETS CAP3 auction will clear today at 11:00 CET.
  • Wind output in Germany is forecast to edge up to 8.4GW during base load on Wednesday, from 7.97GW on Tuesday according to SpotRenewables.
  • The latest two-week ECMWF weather forecast for Dusseldorf suggests mean temperatures will remain above normal until 28 February, before turning cooler until 3 March, after which temperatures will rise back up.
  • Mean temperatures in Dusseldorf are forecast to decline to 7.7C on Wednesday, down from 9.1C on Tuesday and above the seasonal average of 4.9C.
  • Power demand in Germany is forecast to rise to 60.52GW on Wednesday, up from 59.86GW on Tuesday according to Bloomberg.
  • Residual load in Germany is forecast to edge higher to 48.57GWh/h on Wednesday, from 47.25GWh/h on Tuesday according to Reuters.
  • Germany’s hydro balance has been revised lower on the day to end at -185GWh on 11 March, compared with -167GWh a day earlier.
  • Capacity at the 600MW Baltic Cable between Sweden and Germany is curtailed by 198MW until Monday morning in an unplanned outage due. After that, the cable will undergo planned maintenance until 4 March.