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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
Italian hydropower reserves deaccelerated gains last week (week 26) but narrowed the deficit to the same week last year and flipped to surplus to the 5-year average for the first time since week 15, Entso-E data showed.
- Italian hydro reservoirs stood at 3.60TWh at the end of last week, slowing the weekly increase to 0.23TWh from 0.27TWh the week prior.
- Stocks flipped to a 0.07TWh surplus to the 5-year average from a 0.04TWh deficit the week prior.
- But reservoir levels were still below 2023 levels by just 0.09TWh in week 26, albeit narrowing from a 0.23TWh deficit in week 25.
- Hydropower generation in Italy last week edged higher to 1.547TWh compared to 1.531TWh in the previous week.
- Gas-fired generation last week fell to 2.11TWh from 2.33TWh in week 25.
- And wind output last week remained firm on the week at 306GWh compared to 304GWh the week prior. Solar PV output rose on the week to 740GWh from 721GWh.
- Looking forward, weather forecasts for Torino – close to Italy’s hydro-intensive region – show some precipitation for the remainder of this week, with the forecast on 6 July revised up by around 2mm, according to ECMWF.
- The latest ECMWF weather forecast for Rome suggests average temperatures are forecast to rise from below seasonal normal currently to above normal from 6 July. Maximum temperatures in Rome are forecast to reach around 32C on 13 July, likely boosting demand for cooling.
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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