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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.
ELECTRICITY
Norwegian hydropower reserves increased by 1.1 percentage points on the week to 78.7% of capacity as of 22 August, widening the surplus to the five-year average to the highest level so far this year, NVE data showed.
- Stocks widened the surplus to the five-year average to 5.06 percentage points, up from 4.73 percentage points a week earlier.
- Hydro reserves in the NO1 region reached 102% of capacity in calendar week 32 but edged down to 99.8% last week.
- Overall hydropower output rose last week amid slightly lower gas-fired generation and wind output. Generation from pumped storage rose by 53MW to 110MW. Hydro run-of-river averaged 3.76GW last week, up by 104MW on the week. Output from reservoirs rose by 3.66GW to 12.09GW, Entso-E data showed.
- Forecasts for onshore wind output during base-load hours in Norway range between around 390MW to 1.13GW, with load factors ranging 7-31% this weekend. Low wind power output for the first half of the week could spur demand for hydropower generation.
- Forecasts for high precipitation this week could support some inflows into reserves.
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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