POWER
- Poland’s April baseload power settled at PLN398.20/MWh compared to its settled price of PLN403.22/MWh on 11 March, according to data on Polish power exchange TGE.
- EUA DEC 25 down 0.4% at 68 EUR/MT
- Rotterdam Coal APR 25 down 1.8% at 97.55 USD/MT
- The April contract traded 58 times in 64 lots from 72 lots exchanged in the previous session. Liquidity fell from its all-time high in the previous session.
- The contract opened at PLN400/MWh before rising to a daily high of PLN402/MWh and ending the session at a daily low of PLN398/MWh.
- It is important to note that the trading session was relatively volatile amid similar movements in the energy complex today.
- Average temperatures in Warsaw were revised higher toward the end of March and into early April, with temperatures forecast to climb to as high as 13.75C on 26 March – up from the seasonal norm of 4.8C for the same day.
- Closer in, the day-ahead dropped slightly for Thursday delivery at PLN515.43/MWh from PLN526.43/MWh for Wednesday as Polish wind is expected at a 29% load factor tomorrow from 5% today.
- Looking slightly ahead, wind will then be at a 16% load factor on 14 March (Fri) – which could support prices.
- Average temperatures are also seen dropping to 5.3C on 14 March from 9.4C on 13 March – adding further upward pressure.
Additionally, unplanned works at the 910MW Jaworzno 2 coal plant will still end on 17 March, however, the plant will enter planned maintenance on the same day until 1 May.
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