POWER: End of Day Power Summary: CWE Holds Onto Losses

CWE front-month futures have been holding onto losses today amid declines in European gas and carbon allowances. CWE spot prices moved into negative territory for Friday delivery as renewables output is forecast to rise. 

• France Base Power SEP 24 down 1.7% at 69.3 EUR/MWh
• Germany Base Power SEP 24 down 1.7% at 88.15 EUR/MWh
• EUA DEC 24 down 0.7% at 71.62 EUR/MT
• TTF Gas SEP 24 down 1% at 36.655 EUR/MWh
• Rotterdam Coal SEP 24 up 0.5% at 117.3 USD/MT
• TTF front-month has been holding onto losses this afternoon with stable fundamentals, removing most of the recent Ukraine-Russia war premium. 
• EU ETS Dec24 has also extended losses throughout the day, tracking moves in natural gas. Today's EUA auction cleared lower at €71.02/ton CO2e, down from €72.40/ton CO2e.
• Australian coal exports to Belgium and France have moved up on the month so far in August, while South African coal exports to Germany have declined.
• The number of PPA’s done in July was at similar levels in June at 24, however, the number of volumes disclosed climbed by 27% on the month to 1.196GW.
• EdF will lower capacity at the 915MW Tricastin 4 to 316MW, the 1.49GW Civaux 1 reactor to 375MW and the 890MW Dampierre 3 to 180MW on 23 August amid high renewable output.
• The unplanned outage at the IFA 2 Tourbe-Daedalus interconnector has been extended by one day until 24 Aug 22:59 CET.
• RWE in Germany has received almost 3TWh of bids – equal to the offered volumes – for its green tender that ended on 16 August.
• Italian hydropower reserves decreased by 0.08TWh to 3.43Twh as of the end of week 33.
• The unplanned outage at the 1.44GW Nordlink interconnector between Germany and Norway has been shortened to end 22 Aug 13:00 CET.
• MVM’s 500MW Paks 3 nuclear reactor in Hungary will start planned maintenance on 23 August.