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Italy Hydro Stocks Widen Surplus to 5-year Avg

POWER

Italian hydropower reserves slowed gains last week (week 27) for the third consecutive week but were in line with the same week last year, with stocks widening their surplus to the 5-year average, Entso-E data showed.

  • Italian hydro reservoirs stood at 3.73TWh at the end of last week, slowing the weekly increase to 0.13TWh from 0.23-0.27TWh two weeks prior.
  • Stocks widened their surplus to the 5-year average to 0.15TWh from 0.07TWh the week prior.
  • And reservoir levels were at parity with 2023 levels, widening from a 0.09TWh deficit in week 26. This is the first-time stocks have not been at a deficit to the same week last year since week 16 of this year.
  • Hydropower generation in Italy last week dropped to 1.44TWh compared to 1.55TWh in the previous week – supporting stocks.
  • Gas-fired generation last week remained unchanged on the week at 2.11TWh
  • And wind output last week increased to 326GWh compared to 300GWh the week prior. Solar PV output rose slightly on the week to 754GWh from 737GWh.
  • Looking forward, weather forecasts for Torino – close to Italy’s hydro-intensive region – indicate strong precipitation over 11-13 July, with the forecast on 12 July revised up slightly to be at around 15.5mm, compared to the 30-year norm of about 0.8mm, according to ECMWF.
  • Flooding in northern Italy has also been present, which could further add support to hydro stocks.
  • But the latest ECMWF weather forecast for Rome suggests average temperatures are forecast to be above the seasonal norm of about 25C over 11-19 July – which could raise the demand for cooling. Maximum temperatures are seen as high as 33.7C on 18 July.
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Italian hydropower reserves slowed gains last week (week 27) for the third consecutive week but were in line with the same week last year, with stocks widening their surplus to the 5-year average, Entso-E data showed.

  • Italian hydro reservoirs stood at 3.73TWh at the end of last week, slowing the weekly increase to 0.13TWh from 0.23-0.27TWh two weeks prior.
  • Stocks widened their surplus to the 5-year average to 0.15TWh from 0.07TWh the week prior.
  • And reservoir levels were at parity with 2023 levels, widening from a 0.09TWh deficit in week 26. This is the first-time stocks have not been at a deficit to the same week last year since week 16 of this year.
  • Hydropower generation in Italy last week dropped to 1.44TWh compared to 1.55TWh in the previous week – supporting stocks.
  • Gas-fired generation last week remained unchanged on the week at 2.11TWh
  • And wind output last week increased to 326GWh compared to 300GWh the week prior. Solar PV output rose slightly on the week to 754GWh from 737GWh.
  • Looking forward, weather forecasts for Torino – close to Italy’s hydro-intensive region – indicate strong precipitation over 11-13 July, with the forecast on 12 July revised up slightly to be at around 15.5mm, compared to the 30-year norm of about 0.8mm, according to ECMWF.
  • Flooding in northern Italy has also been present, which could further add support to hydro stocks.
  • But the latest ECMWF weather forecast for Rome suggests average temperatures are forecast to be above the seasonal norm of about 25C over 11-19 July – which could raise the demand for cooling. Maximum temperatures are seen as high as 33.7C on 18 July.