POWER: End of Day Power Summary: CWE, Nordics Flip

CWE and Nordic power futures have ended the session in red territory, as TTF prices have fallen from their highs, with extended losses in EU ETS adding additional weight. CWE and Iberian Temperatures throughout the 6-10 day forecasts are expected to begin cooling off – possibly keeping cooling demand limited

• Nordic Base Power OCT 24 up 2% at 22.7 EUR/MWh
• France Base Power OCT 24 down 0.5% at 66.4 EUR/MWh
• Germany Base Power OCT 24 down 0.6% at 81.6 EUR/MWh
• EUA DEC 24 down 1.3% at 66.13 EUR/MT
• TTF Gas OCT 24 up 0.3% at 35.91 EUR/MWh
• The TTF M1 is facing pressure amid ample storage levels and a reduced geopolitical risk premium, as the system manages reduced pipeline supplies from Norway
• EU ETS Dec24 has fallen from its high in the early afternoon to extended losses towards the end of the day as natural gas markets have lost most gains.
• The latest EU ETS CAP3 EU auction cleared lower at €65.99/ton CO2e, down from €68.56/ton CO2e and the lowest since 23 July – adding further weight.
• The unplanned IFA 2 UK-FR interconnector outage has been extended by one day until 6 September.
• Renewable auctions in Spain, which have been paused due to under subscriptions, can still support Spain’s transition and work alongside PPAs.
• Poland saw negative power prices for three days in August for 7 consecutive hrs - limiting support for renewable power production.
• SSEN Transmission submitted a planning application to upgrade a substation and provide a grid connection for Scotland's SSE Renewables 1.5GW Coire hydro project.
• Ukraine will conduct a consultation regarding the purchasing of gas turbines for power generation, with the date for suppliers to send commercial offers set for 10 September.