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Poland June 24 Power Rebounds on Coal, EU ETS

POWER
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Poland’s June 2024 baseload power contract has rebounded to a six-session high on Monday, following price increases in the European coal and emissions markets. But temperatures are still anticipated about seasonal norms over June, weighing down on demand.

  • Poland June 2024 Baseload power up ~3.94% at PLN408/MWh – its daily settlement, according to data on Polish power exchange TGE. This is the highest since 9 May when it settled at PLN408.50/MWh.
  • The contract traded as high as PLN409/MWh and low as PLN407/MWh during Monday’s trading session.
  • The June 24 power contract traded for 15MW, up from none exchanged in the previous session.
  • API 2 June 24 up 3.2% at $112.70/t
  • December 2024 EU ETS contract is up 3.88% at €73.43/t CO2e.
  • Temperatures in Warsaw over June have been relatively unchanged and are still anticipated between 18-20.75°C in June, above the 30-year seasonal average of ~ 16-18°C.
  • Closer in, Polish wind output is expected at around 1.18-3.56GW over 21-22 May. Wind is then expected between 869-906MW over 24-25 May before picking up to around 1.36-1.65GW over 27-28 May, according to Bloomberg.

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Poland’s June 2024 baseload power contract has rebounded to a six-session high on Monday, following price increases in the European coal and emissions markets. But temperatures are still anticipated about seasonal norms over June, weighing down on demand.

  • Poland June 2024 Baseload power up ~3.94% at PLN408/MWh – its daily settlement, according to data on Polish power exchange TGE. This is the highest since 9 May when it settled at PLN408.50/MWh.
  • The contract traded as high as PLN409/MWh and low as PLN407/MWh during Monday’s trading session.
  • The June 24 power contract traded for 15MW, up from none exchanged in the previous session.
  • API 2 June 24 up 3.2% at $112.70/t
  • December 2024 EU ETS contract is up 3.88% at €73.43/t CO2e.
  • Temperatures in Warsaw over June have been relatively unchanged and are still anticipated between 18-20.75°C in June, above the 30-year seasonal average of ~ 16-18°C.
  • Closer in, Polish wind output is expected at around 1.18-3.56GW over 21-22 May. Wind is then expected between 869-906MW over 24-25 May before picking up to around 1.36-1.65GW over 27-28 May, according to Bloomberg.