MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

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

POWER
BulletPower BulletsEnergy BulletsCommodities

CWE front-month futures have been holding onto losses today amid declines in European gas and carbon allowances. CWE spot prices could be higher on the week for delivery on 14 Oct (Mon) amid forecasts for lower wind compared to 7 Oct.

  • France Base Power NOV 24 down 1% at 75.73 EUR/MWh
  • Germany Base Power NOV 24 down 0.7% at 88.75 EUR/MWh
  • EUA DEC 24 down 0.4% at 64.71 EUR/MT
  • TTF Gas NOV 24 down 1.5% at 39.68 EUR/MWh
  • The TTF front-month price is declining from yesterday’s high of €40.4/MWh, staying below the October 4 peak of €41.18/MWh. Geopolitical tensions, particularly Israel’s retaliation against Iran, remain in focus, while warmer temperatures are expected next week across NWE.
  • EU ETS Dec24 has also kept losses throughout the day, tracking moves in natural gas, while the latest weekly German EUA CAP3 auction cleared higher at €63.71/ton CO2e, from €61.03/ton CO2e – adding some support.
  • The European Commission has approved two Luxembourgish schemes totalling €520mn to support the decarbonisation of manufacturing and investments in strategic sectors.
  • The Dutch government is considering lowering its 2040 offshore wind target of 50GW due to plans for four new nuclear power station.
  • German wind output is forecast to reach 49GW at 14:00 CET on Sunday amid a storm followed by Hurricane Kirk.
  • TotalEnergies and Equinor are eying investing in new German gas-fired power plants.
  • The French government published its 2025 budget plan on Thursday, with plans to increase spending in decarbonisation, while cutting support for EV purchases and increasing taxes on certain combustion engine vehicles.
  • Greece is targeting 82% renewable electricity by 2030 in its revised NECP, up from 66% in its 2019 plan, however, the proposal must be approved by the EU.
  • Poland is targeting 59% renewable electricity in its mix by 2030 in its “active transformation” NECP draft, up from 43% in its 2023 plan, with the share of coal in the mix dropping to 21% from 47% last year.
  • Elektrum Lietuva has started construction of three solar parks – a combined capacity of 176MW – in Lithuania, with operations by Sept 2025.
333 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

CWE front-month futures have been holding onto losses today amid declines in European gas and carbon allowances. CWE spot prices could be higher on the week for delivery on 14 Oct (Mon) amid forecasts for lower wind compared to 7 Oct.

  • France Base Power NOV 24 down 1% at 75.73 EUR/MWh
  • Germany Base Power NOV 24 down 0.7% at 88.75 EUR/MWh
  • EUA DEC 24 down 0.4% at 64.71 EUR/MT
  • TTF Gas NOV 24 down 1.5% at 39.68 EUR/MWh
  • The TTF front-month price is declining from yesterday’s high of €40.4/MWh, staying below the October 4 peak of €41.18/MWh. Geopolitical tensions, particularly Israel’s retaliation against Iran, remain in focus, while warmer temperatures are expected next week across NWE.
  • EU ETS Dec24 has also kept losses throughout the day, tracking moves in natural gas, while the latest weekly German EUA CAP3 auction cleared higher at €63.71/ton CO2e, from €61.03/ton CO2e – adding some support.
  • The European Commission has approved two Luxembourgish schemes totalling €520mn to support the decarbonisation of manufacturing and investments in strategic sectors.
  • The Dutch government is considering lowering its 2040 offshore wind target of 50GW due to plans for four new nuclear power station.
  • German wind output is forecast to reach 49GW at 14:00 CET on Sunday amid a storm followed by Hurricane Kirk.
  • TotalEnergies and Equinor are eying investing in new German gas-fired power plants.
  • The French government published its 2025 budget plan on Thursday, with plans to increase spending in decarbonisation, while cutting support for EV purchases and increasing taxes on certain combustion engine vehicles.
  • Greece is targeting 82% renewable electricity by 2030 in its revised NECP, up from 66% in its 2019 plan, however, the proposal must be approved by the EU.
  • Poland is targeting 59% renewable electricity in its mix by 2030 in its “active transformation” NECP draft, up from 43% in its 2023 plan, with the share of coal in the mix dropping to 21% from 47% last year.
  • Elektrum Lietuva has started construction of three solar parks – a combined capacity of 176MW – in Lithuania, with operations by Sept 2025.