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Nordic Sept Power Rises on Drier Outlook, German Market

POWER
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Nordic front-month power base load is rebounding today to the highest since Monday amid forecasts for a drier outlook and support from the German market. Germany Sept power base load, however, has erased some earlier gains, as gas prices flipped red, which could weigh on the Nordic settlement.

    • Nordic Base Power SEP 24 up 6.3% at 28.5 EUR/MWh
    • Germany Base Power SEP 24 up 0.9% at 91.14 EUR/MWh
    • TTF Gas SEP 24 down 0.4% at 39.33 EUR/MWh
  • Norway’s hydrological balance is still expected to turn positive towards the end of August, however, slightly less than previously forecast, with the balance now expected to reach around +566GWh compared to +1,030GWh anticipated on Tuesday morning.
  • Precipitation in the Nordics has been revised lower on the day and is forecast to remain below the 30-year normal for most of the 10-day forecast period.
  • Nordic nuclear reactors were operating at 86% of capacity on Wednesday, down from 88% on the previous day.
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Nordic front-month power base load is rebounding today to the highest since Monday amid forecasts for a drier outlook and support from the German market. Germany Sept power base load, however, has erased some earlier gains, as gas prices flipped red, which could weigh on the Nordic settlement.

    • Nordic Base Power SEP 24 up 6.3% at 28.5 EUR/MWh
    • Germany Base Power SEP 24 up 0.9% at 91.14 EUR/MWh
    • TTF Gas SEP 24 down 0.4% at 39.33 EUR/MWh
  • Norway’s hydrological balance is still expected to turn positive towards the end of August, however, slightly less than previously forecast, with the balance now expected to reach around +566GWh compared to +1,030GWh anticipated on Tuesday morning.
  • Precipitation in the Nordics has been revised lower on the day and is forecast to remain below the 30-year normal for most of the 10-day forecast period.
  • Nordic nuclear reactors were operating at 86% of capacity on Wednesday, down from 88% on the previous day.