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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
European bidding zones – incl Norway and the UK – saw a total of 4,603 negative priced hours in the power market in the first six month of this year, up by 205% in the year according to ICIS.
- In Jan-Jun this year, 14% of all hours have seen at least one negative price across all bidding zones, while 3% of all hourly prices have been negative.
- The frequency of negative priced hours has not significantly increased in 1Q 2024, while the frequency sharply rose in April-June.
- Negative prices this year were driven by a sharp increase in solar PV output, high nuclear output in France, high hydropower output and low demand.
- Finland saw the most negative priced hours in the first half of this year with 264 hours. This has been due to a large capacity in must-run, nuclear and hydro, while high snowmelt and rainfall dented the flexibility capacity of reservoirs. In addition, subsidies including GO prices incentives renewable generation despite negative prices.
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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