Free Trial

Nordic Hydro Stocks Widen Deficit to 19-year Average

POWER

Nordic hydropower reserves rose the slowest for any week last week (week 27), since the upward trend started in week 18, to be at 68.9% of capacity, or 87.53TWh, with stocks widening their deficit to the 19-year avg to the highest since week 19.

  • Stocks increased by just 1.1 points compared to a 2.1 gain the week prior. The fastest week-on-week increase of reserves was in week 20 – when reserves moved up by 9.4 points.
  • Reservoir levels narrowed their surplus to the same week last year for the fifth consecutive week to just 2.4 points from 3 points in the previous week.
  • And the deficit to the 19-year average widen to 3.2 points from a 0.7-point deficit in week 26.
  • Finnish hydro stocks recorded the only week-on-week drop in the region for the second consecutive week, falling to 73.5% of capacity, but still up on the year. Swedish and Norwegian reserves climbed 65.2% and 70.1%, respectively.
  • Looking ahead, the latest ECMWF forecast suggested precipitation in Norway is expected to be above the 30-year norm of around 4mm over 13-18 July, with precipitation on 14 July reaching as high as 15mm, ECMWF show.
  • This is slightly different in Sweden, where rainfall is anticipated to be in line with the 30-year norm of about 3mm for most of the two-week forecast
  • And Nordic nuclear availability rose to 78% of capacity today, with the 1.08GW Ringhals 3 unit expected to return to the grid on 18 July.

245 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.

Nordic hydropower reserves rose the slowest for any week last week (week 27), since the upward trend started in week 18, to be at 68.9% of capacity, or 87.53TWh, with stocks widening their deficit to the 19-year avg to the highest since week 19.

  • Stocks increased by just 1.1 points compared to a 2.1 gain the week prior. The fastest week-on-week increase of reserves was in week 20 – when reserves moved up by 9.4 points.
  • Reservoir levels narrowed their surplus to the same week last year for the fifth consecutive week to just 2.4 points from 3 points in the previous week.
  • And the deficit to the 19-year average widen to 3.2 points from a 0.7-point deficit in week 26.
  • Finnish hydro stocks recorded the only week-on-week drop in the region for the second consecutive week, falling to 73.5% of capacity, but still up on the year. Swedish and Norwegian reserves climbed 65.2% and 70.1%, respectively.
  • Looking ahead, the latest ECMWF forecast suggested precipitation in Norway is expected to be above the 30-year norm of around 4mm over 13-18 July, with precipitation on 14 July reaching as high as 15mm, ECMWF show.
  • This is slightly different in Sweden, where rainfall is anticipated to be in line with the 30-year norm of about 3mm for most of the two-week forecast
  • And Nordic nuclear availability rose to 78% of capacity today, with the 1.08GW Ringhals 3 unit expected to return to the grid on 18 July.