POWER
Poland’s March climbed to a fresh high to be around 8.1% up on the week as gains in EU ETS and European coal have followed similar on-week increases. Looking ahead, the unplanned outage at a 566MW coal unit has been extended to 4 Feb, with wind anticipated at just 3-7% load factors over 3-6 Feb likely lifting spot prices higher on the week.
- Poland’s March baseload power settled at PLN445.99/MWh compared to its settled price of PLN433.86/MWh on 30 January, according to data on Polish power exchange TGE.
- This is up from its settlement on 24 January (last week Friday) at PLN412.50/MWh.
- The contract also reached a fresh all-time high.
- EUA DEC 25 up 1.9% at 84.23 EUR/MT.
- Rotterdam Coal FEB 25 up 1.4% at 110.7 USD/MT at 14:57 GMT.
- The March contract traded 14 times in 18 lots from 17 lots exchanged in the previous session.
- The contract opened at PLN441.50/MWh – the daily low – before climbing to a daily high of PLN448/MWh and dropping slightly at the end of the session to be at PLN446/MWh.
- Average temperatures in Warsaw are now expected to flip below the norm on 8 February and remain below until 14 February. However, temps will flip back above around 21 February and be higher until mid-March.
- Closer in, the day-ahead dropped on the day to PLN560.66/MWh for Saturday delivery from PLN575.74/MWh for Friday amid typically lower weekend demand.
- However, wind is expected at a 24% load factor tomorrow from a 32% load factor today – likely limiting losses.
- Looking slightly ahead, wind will then be between 3-7% load factors over 3-6 February (Mon-Thur) – likely keeping prices elevated, coupled with works at the 834MW Jaworzno 2 B7 coal plant until 3 February.
And Poland’s 566MW unit 10 at its 2.2GW Kozienice 2 coal plant has extended its unplanned outage to 4 February from 1 February, latest Remit data show.
304 words