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Italian Hydro Reservoir Rise But Remain Down On Year

POWER

Italian hydro stocks over 6-12 May (week 19) increased for the second consecutive week. However, stocks remain down on the year and are below the 5-year average amid increased hydro output in the region as wind and PV output decreased on the week.

  • Hydro reservoir levels up just 0.05TWh on the week to 2.16TWh, after having increased by 0.07TWh in the previous week. Hydro stocks widened their deficit to the 5-year average to 0.30TWh from 0.24TWh in week 18 (29 April-5 May).
  • And stocks also flipped to a deficit to the 5-year min at 0.04TWh from a 0.04TWh surplus in the previous week, with the deficit to the 5-year max widening to 0.64TWh.
  • Italy generated around 1.22TWh of hydro over 6-12 May, up from 1.01TWh over 29 April-5 May and higher than 997.3GWh generated over 22-28 April (week 17).
  • In contrast, wind and PV dropped to 0.726TWh and 0.409TWh, respectively, in week 19 compared to 0.740TWh and 0.560TWh in the previous week.
  • Hydro stocks could be supported this week (13-19 May) as Italian power demand is forecast to remain unchanged on the week at around 28.55GW compared to 28.53GW over 6-12 May.
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