MNI BRIEF: German Insolvencies Stable, But Job Losses Grow

MNI China Daily Summary: Thursday, January 9

MNI: BAVARIA DEC CPI 3.0% Y/Y (FLASH WAS 3.2%)

MNI BRIEF: Mexico Inflation Up To 4.21%, More Rate Cuts Loom

MNI BOJ: 2 OUT OF 9 JAPAN REGIONS UP ECON VIEW FROM OCT

MNI: PBOC Net Drains CNY20.7 Bln via OMO Thursday

MNI: EUROZONE NOV RETAIL SALES +0.1% M/M, +1.2% Y/Y

MNI: GERMANY NRW DEC CPI +0.5% M/M, +2.5% Y/Y

MNI: GERMANY NOV EXPORTS +2.1% M/M

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

POWER: Mid-Day Power Summary: German, French Front-Week Diverge

POWER
BulletPower BulletsEnergy BulletsCommodities

The German and French week-ahead contracts have diverged, with Germany dropping sharply amid strong wind expected next week, while the French equivalent has been supported by lower wind anticipated over the same period and much higher demand compared to Germany. This has widened the German front-week discount to €14.50/MWh at the time of writing from €1.99/MWh on 24 December. CWE Jan is tracking gains in TTF and emissions.

  • Germany Base Power Week 2 down 15.5% at 60 EUR/MWh
  • France Base Power Week 2 up 2.1% at 74.5 EUR/MWh.
  • France Base Power JAN 25 up 5.6% at 105.49 EUR/MWh
  • Germany Base Power JAN 25 up 4.1% at 119.5 EUR/MWh
  • EUA DEC 25 up 1.6% at 70.56 EUR/MT
  • TTF Gas JAN 25 up 3.3% at 47.235 EUR/MWh
  • Rotterdam Coal JAN 25 up 1.6% at 111.4 USD/MT
  • Front-month TTF prices have held onto gains amid sustained doubts that a new transit deal can be made as Putin said Thursday it would be impossible to arrange a new transit contract before year’s end when the current agreement expires.
  • EU ETS Dec25 has remained in green throughout the trading session to track price increases in TTF and European coal. Downward revision of temperatures in NW Europe is also supporting, however, strong wind next – especially in Germany – is limiting gains.
  • The outage at the 650MW Estlink 2 between Finland and Estonia on 25 December will last until 31 July 2025.
  • Despite the suspected sabotage of the 658MW EstLink 2 power connection, Lithuania’s energy system remains stable.
  • The Kremlin has downplayed Finland’s boarding of a Russian oil vessel linked to the Estlink 2 outage, while Estonia's military has initiated a naval operation to safeguard the Estlink 1 cable in the Baltic Sea.
  • Estonia’s justice minister has called for international maritime laws to be updated to protect against damage to undersea infrastructure.
  • Poland’s Council of Ministers has approved a draft amendment to the Capacity Market Act, introducing supplementary auctions from 2H25-28 to bolster energy security and address gaps in generating capacity caused by EU carbon emission limit.
  • Iberdrola will repower its 49.5MW Molar de Molinar and 48MW Isabela wind parks in Spain, increasing their output by 30%, with commissioning planned for 4Q25.

 

 

351 words

To read the full story

Close

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.

The German and French week-ahead contracts have diverged, with Germany dropping sharply amid strong wind expected next week, while the French equivalent has been supported by lower wind anticipated over the same period and much higher demand compared to Germany. This has widened the German front-week discount to €14.50/MWh at the time of writing from €1.99/MWh on 24 December. CWE Jan is tracking gains in TTF and emissions.

  • Germany Base Power Week 2 down 15.5% at 60 EUR/MWh
  • France Base Power Week 2 up 2.1% at 74.5 EUR/MWh.
  • France Base Power JAN 25 up 5.6% at 105.49 EUR/MWh
  • Germany Base Power JAN 25 up 4.1% at 119.5 EUR/MWh
  • EUA DEC 25 up 1.6% at 70.56 EUR/MT
  • TTF Gas JAN 25 up 3.3% at 47.235 EUR/MWh
  • Rotterdam Coal JAN 25 up 1.6% at 111.4 USD/MT
  • Front-month TTF prices have held onto gains amid sustained doubts that a new transit deal can be made as Putin said Thursday it would be impossible to arrange a new transit contract before year’s end when the current agreement expires.
  • EU ETS Dec25 has remained in green throughout the trading session to track price increases in TTF and European coal. Downward revision of temperatures in NW Europe is also supporting, however, strong wind next – especially in Germany – is limiting gains.
  • The outage at the 650MW Estlink 2 between Finland and Estonia on 25 December will last until 31 July 2025.
  • Despite the suspected sabotage of the 658MW EstLink 2 power connection, Lithuania’s energy system remains stable.
  • The Kremlin has downplayed Finland’s boarding of a Russian oil vessel linked to the Estlink 2 outage, while Estonia's military has initiated a naval operation to safeguard the Estlink 1 cable in the Baltic Sea.
  • Estonia’s justice minister has called for international maritime laws to be updated to protect against damage to undersea infrastructure.
  • Poland’s Council of Ministers has approved a draft amendment to the Capacity Market Act, introducing supplementary auctions from 2H25-28 to bolster energy security and address gaps in generating capacity caused by EU carbon emission limit.
  • Iberdrola will repower its 49.5MW Molar de Molinar and 48MW Isabela wind parks in Spain, increasing their output by 30%, with commissioning planned for 4Q25.