POWER
Poland’s March declined to its lowest settlement since 6 February as losses in the EU ETS market offset slight gains in European coal. However, average temperatures in Warsaw have been revised down over 13-16 February, with temps below the seasonal norm until 26 February – which could keep demand firm.
- Poland’s March baseload power settled at PLN469.78/MWh compared to its settled price of PLN485.20/MWh on 11 February, according to data on Polish power exchange TGE.
- The contract fell to its lowest settlement since 6 February at PLN467.33/MWh.
- EUA DEC 25 down 1.6% at 81.3 EUR/MT
- Rotterdam Coal MAR 25 up 0.4% at 102.3 USD/MT
- The March contract traded 9 times in 9 lots from 31 lots exchanged in the previous session. This is the lowest amount of liquidity for the contract since 7 Feb.
- The contract opened at PLN482/MWh – the high for the day – before dropping to PLN469/MWh and ending the session at PLN470/MWh.
- Average temperatures in Warsaw were revised down over 13-16 February by as much as 0.6C on the day.
- Temperatures are still expected to be below the 30-year norm until 26 February and are expected to reach as low as -8.45C on 22 February.
- Closer in, the day-ahead rose for the second consecutive session to PLN690.64/MWh for Thursday delivery from PLN574.34/MWh for Wednesday as wind is expected amid the unplanned 400MW curtailment at Poland’s 910MW Jaworzno 2 coal plant being extended to 15 February from 13 February.
- Works at 566MW unit 10 at the Kozienice 2 are also going on until 13 February at 18:00 CET.
- Wind is also expected at 1.61GW tomorrow from 3.09GW today but average temperatures in Warsaw will warm up to -0.92C tomorrow from -2.8C today.
Looking slightly ahead, wind will then be at 2.12GW load factor on 14 February (Fri) – likely dropping prices from the previous session.
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