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POWER: End of Day Power Summary: CWE, Italy, Iberian Extend Losses from Midday

POWER
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CWE, Italy and Iberian front-month power futures have extended losses towards the end of Friday's session to track similar movements in TTF and EU ETS, with temperatures in NW Europe expected to remain mostly above seasonal norms over the 6–10-day ECMWF forecasts. The FR-DE Dec discount has widened to a monthly high at €7.18/MWh, with prices in France down by around 2% on the week compared to a just 0.7% loss for the German equivalent.

  • Spain Base Power DEC 24 down 4.4% at 96 EUR/MWh
  • Italy Base Power DEC 24 down 2.5% at 132.64 EUR/MWh
  • France Base Power DEC 24 down 3.2% at 96.85 EUR/MWh
  • Germany Base Power DEC 24 down 2.4% at 104.03 EUR/MWh
  • EUA DEC 24 down 1.1% at 69.19 EUR/MT
  • TTF Gas DEC 24 down 3% at 46.86 EUR/MWh
  • Rotterdam Coal DEC 24 down 1.6% at 123.55 USD/MT
  • TTF front-month extended losses toward the end of the session as the risk premium tied to Ukraine-Russian tensions eased, and forecasts of unseasonably warm temperatures in Europe further softened demand outlooks, with strong wind expected early next week.  The first support is at €44.02/MWh, with the first resistance at €49.55/MWh.
  • EU ETS Dec24 is tracking losses in EU gas coupled with above-normal weather forecasts heading into next week likely to reduce fossil-fuel demand, with drop in coal prices adding further downward pressure.
  • Competitiveness for German gas-fired plants for December is on track to decrease this week, amid stronger gas prices on the week, while German power is broadly unchanged on the week.
  • Stormy weather in the UK, driven by low-pressure system Storm Bert, is set to generate a record amount of wind power this weekend – 23GW on Sat –, easing reliance on natural gas.
  • Lobby Solar Energy UK is calling for the UK government to triple its solar capacity to 50-60GW by 2030 as it could lower electricity costs by about 12%, reduce natural gas imports and lower emission.
  • The Netherlands is planning to tender up to 3GW of new offshore wind capacity in September 2025.
  • EdF will disconnect its 1.3GW Cattenom 4 nuclear reactor over 23-25 Nov.
  • Italy installed almost 6GW of new solar PV capacity so far this year.
  • Iberdrola has halted the 1.06GW Cofrentes nuclear reactor on Friday 13:30CET amid a unit trip, with to return on Sunday 08:00CET.
  • Poland’s Dec power contract failed to continue climbing from the previous session as coal and emissions are trading lower on the day. Average temperatures in Warsaw are now to remain relatively in line with the seasonal average over 24 Nov-3 Dec. Wind output is expected at around 6.6GW on 25 Nov (Mon) – which may cap gains from rising demand.
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CWE, Italy and Iberian front-month power futures have extended losses towards the end of Friday's session to track similar movements in TTF and EU ETS, with temperatures in NW Europe expected to remain mostly above seasonal norms over the 6–10-day ECMWF forecasts. The FR-DE Dec discount has widened to a monthly high at €7.18/MWh, with prices in France down by around 2% on the week compared to a just 0.7% loss for the German equivalent.

  • Spain Base Power DEC 24 down 4.4% at 96 EUR/MWh
  • Italy Base Power DEC 24 down 2.5% at 132.64 EUR/MWh
  • France Base Power DEC 24 down 3.2% at 96.85 EUR/MWh
  • Germany Base Power DEC 24 down 2.4% at 104.03 EUR/MWh
  • EUA DEC 24 down 1.1% at 69.19 EUR/MT
  • TTF Gas DEC 24 down 3% at 46.86 EUR/MWh
  • Rotterdam Coal DEC 24 down 1.6% at 123.55 USD/MT
  • TTF front-month extended losses toward the end of the session as the risk premium tied to Ukraine-Russian tensions eased, and forecasts of unseasonably warm temperatures in Europe further softened demand outlooks, with strong wind expected early next week.  The first support is at €44.02/MWh, with the first resistance at €49.55/MWh.
  • EU ETS Dec24 is tracking losses in EU gas coupled with above-normal weather forecasts heading into next week likely to reduce fossil-fuel demand, with drop in coal prices adding further downward pressure.
  • Competitiveness for German gas-fired plants for December is on track to decrease this week, amid stronger gas prices on the week, while German power is broadly unchanged on the week.
  • Stormy weather in the UK, driven by low-pressure system Storm Bert, is set to generate a record amount of wind power this weekend – 23GW on Sat –, easing reliance on natural gas.
  • Lobby Solar Energy UK is calling for the UK government to triple its solar capacity to 50-60GW by 2030 as it could lower electricity costs by about 12%, reduce natural gas imports and lower emission.
  • The Netherlands is planning to tender up to 3GW of new offshore wind capacity in September 2025.
  • EdF will disconnect its 1.3GW Cattenom 4 nuclear reactor over 23-25 Nov.
  • Italy installed almost 6GW of new solar PV capacity so far this year.
  • Iberdrola has halted the 1.06GW Cofrentes nuclear reactor on Friday 13:30CET amid a unit trip, with to return on Sunday 08:00CET.
  • Poland’s Dec power contract failed to continue climbing from the previous session as coal and emissions are trading lower on the day. Average temperatures in Warsaw are now to remain relatively in line with the seasonal average over 24 Nov-3 Dec. Wind output is expected at around 6.6GW on 25 Nov (Mon) – which may cap gains from rising demand.