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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.
POWER
Germany has flipped back to a net power importer position from the Netherlands in June, after switching to a small net power exporter for the first time this year in May. Current pricing suggests Germany will continue to import power from the Netherlands for the remainder of this month.
- German-Dutch net power imports averaged 747.3MW so far this month on 1-4 June. German-Dutch net power exports averaged 6.9MW in May, only slightly positive.
- Combined onshore and offshore wind output has been stable so far this month at an average of 11.13GW on 1-4 June, as of time of writing, compared to an average of 10.36GW in all of May.
- Solar PV output so far in June was down at 9.3GW, compared to a monthly average of 11.67GW in May.
- Gas generation in Germany was weaker at the start of June at 4.54GW, compared with the May average of 4.77GW.
- Lignite and hard-coal output remained broadly stable at 7.72GW in June, compared with 7.8GW in May.
- Latest pricing suggested Germany is likely to remain a net power importer from the Netherlands. The German week-ahead base-load contract closed yesterday at €85.44/MWh, at a €9.46/MWh premium to the Dutch market. Germany July power is holding at €5.98/MWh premium to the Dutch equivalent as of the time of writing.
- The latest German wind forecast has been revised up, with solar remaining firm – possibly weighing down prices on delivery.
- Germany: Wind for 5-11 June: 15.02GW (+1.2GW), 7.84GW (unchanged), 5.08GW (-816MW), 8.34GW (unchanged), 11.99GW (-816MW), 14.55GW (unchanged), 7.43GW (unchanged).
- Germany: Solar for 5-11 June: 11.68GW (-661MW), 13.78GW (-188MW), 13.83GW (-267MW), 12.51GW (-223MW), 11.25GW (-197MW), 14.28GW (-704MW), 12.76GW (-578MW).
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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