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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
The German M1 base-load power contract has flipped into positive territory to maintain its 4-month high as TTF prices have risen amid OMV warning that it may have to stop gas payments to Russia’s Gazprom Export – risking Russian gas supplies to Austria. The French equivalent has also tracked higher– also following gas, with gains in emission lending support to both contracts.
- Germany Base Power front month up 2.44% at €78.45/MWh.
- French Base Power front month up 6.54% at €46.10/MWh.
- German-French premium is at €32.45/MWh down from €33.31 on 22 May at the time of writing.
- EUA DEC 24 up 1.76% at €77.55/t CO2e - following gains in gas.
- TTF Gas JUN 24 up 4.21% at €36.13/MWh
- Thursday’s EU ETS CAP3 EU auction cleared much higher at €74.90/t CO2e, up from €71.80/t CO2e in the previous auction held on 21 May according to EEX. The next auction could move up higher amid upward movements in the energy complex.
- Romania’s energy regulatory authority (ANRE) has authorised the build of the first phase of the 450MW Vifor wind farm in southeastern Romania, according to Renews.Biz.
- European power purchased agreements increased for the fifth consecutive time, edging up by €0.22/MWh – supported by gains in the energy complex on Wednesday, according to latest data from energy pricing firm Pexapark.
- Poland’s Orlen to speed up investments in offshore and onshore wind:CEO
- British utility National Grid plans to raise £6.8bn (€7.98bn) of capital to finance upgrades and expand the power grid with the aim of allowing additional renewable projects to connect to the grid, according to Bloomberg.
- Despite the French day-ahead price increasing sharply on the day as wind forecasts still point to low output over Friday prices are still lowest in the EU region amid high French nuclear availability
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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