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POWER: End of Day Power Summary: CWE Forward Curve Holds Losses, W1 Rises

POWER
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CWE power futures trade in the red towards the end of the session as TTF prices dropped, with declining emissions adding weight. However, losses have been somewhat limited amid price increases in the week-ahead products owing to a drop in temperatures and lower wind compared to this week.

  • France Base Power OCT 24 down 0.1% at 56.6 EUR/MWh
  • Germany Base Power OCT 24 up 0.4% at 76.65 EUR/MWh
  • EUA DEC 24 down 0.3% at 63.89 EUR/MT
  • TTF Gas OCT 24 down 1% at 35.85 EUR/MWh
  • Rotterdam Coal OCT 24 down 0.5% at 113.4 USD/MT
  • TTF is retreating after early gains couldn't surpass last week's high. Fundamentals remain the same, with ongoing supply risks from Norway, the Middle East, and the US Gulf of Mexico.
  • EU ETS Dec24 has had a choppy session, flipping in the midday, as TTF and coal prices continued to move down, while the latest EU ETS CAP3 EU auction cleared lower at €63.91/ton CO2e from €64/ton CO2e.
  • Planned maintenance at the 1.33GW Paluel 4 nuclear reactor has been extended by four days until 4 October. EdF will also halt its Cattenom 1 reactor over 25-27 Sept.
  • EdF will not convert the Cordemais coal-fired power plant into a biomass plant after technical and economic conditions have not been met.
  • Works at Belgium’s 380MW Zandvliet 1 gas-fired power plant have been brought forward to 8 Oct from 31 Oct.
  • Vattenfall has reduced output at the 1.12GW Forsmark Block 2 to 340MW on Tuesday, compared with 240MW previously announced.
  • Italy will give energy-intensive companies 20-25TWh of discounted electricity to stay competitive.
  • Spain approved a Royal Decree regulating offshore renewable production, to ensure projects are built in “high potential zones.”
  • Spain has allocated €167.6mn of support for 811MW (3.59GWh) of energy storage projects.
  • Firm’s Return and Benbros Energy will build 500MW battery storage in Spain, with plans to initially deploy 210MW and to begin construction in 2025.
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CWE power futures trade in the red towards the end of the session as TTF prices dropped, with declining emissions adding weight. However, losses have been somewhat limited amid price increases in the week-ahead products owing to a drop in temperatures and lower wind compared to this week.

  • France Base Power OCT 24 down 0.1% at 56.6 EUR/MWh
  • Germany Base Power OCT 24 up 0.4% at 76.65 EUR/MWh
  • EUA DEC 24 down 0.3% at 63.89 EUR/MT
  • TTF Gas OCT 24 down 1% at 35.85 EUR/MWh
  • Rotterdam Coal OCT 24 down 0.5% at 113.4 USD/MT
  • TTF is retreating after early gains couldn't surpass last week's high. Fundamentals remain the same, with ongoing supply risks from Norway, the Middle East, and the US Gulf of Mexico.
  • EU ETS Dec24 has had a choppy session, flipping in the midday, as TTF and coal prices continued to move down, while the latest EU ETS CAP3 EU auction cleared lower at €63.91/ton CO2e from €64/ton CO2e.
  • Planned maintenance at the 1.33GW Paluel 4 nuclear reactor has been extended by four days until 4 October. EdF will also halt its Cattenom 1 reactor over 25-27 Sept.
  • EdF will not convert the Cordemais coal-fired power plant into a biomass plant after technical and economic conditions have not been met.
  • Works at Belgium’s 380MW Zandvliet 1 gas-fired power plant have been brought forward to 8 Oct from 31 Oct.
  • Vattenfall has reduced output at the 1.12GW Forsmark Block 2 to 340MW on Tuesday, compared with 240MW previously announced.
  • Italy will give energy-intensive companies 20-25TWh of discounted electricity to stay competitive.
  • Spain approved a Royal Decree regulating offshore renewable production, to ensure projects are built in “high potential zones.”
  • Spain has allocated €167.6mn of support for 811MW (3.59GWh) of energy storage projects.
  • Firm’s Return and Benbros Energy will build 500MW battery storage in Spain, with plans to initially deploy 210MW and to begin construction in 2025.