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POWER: End of Day Power Summary: CWE, Nordics Give Back Losses

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The CWE and Nordic forward curves have returned some losses from the morning to early afternoon sessions as TTF prices have flipped into green territory amid reports that Iran is preparing to launch a ballistic missile attack against Israel. However, Losses in EU ETS are still placing weight on the curve.

  • Nordic Base Power NOV 24 down 0.6% at 45.15 EUR/MWh
  • Germany Base Power NOV 24 down 0.7% at 89 EUR/MWh
  • EUA DEC 24 down 2.4% at 63.99 EUR/MT
  • TTF Gas NOV 24 up 1.1% at 39.48 EUR/MWh
  • EU ETS Dec 24 has remained in the red – albeit giving back some gains due to TTF – amid weak EU economic data, forecast for above normal temperatures next week potentially keeping thermal expectations limited. Declining EU equities may also be adding some downward pressure.
  • European gas prices have found support from supply fears linked to escalating conflict in the Middle East, with offshore assets potentially at risk. The contract broke through its 30 Sept high resistance, with €40.25/MWh as the next hurdle.
  • European carbon prices could rise to around €70/t CO2e in 4Q, though concerns about economic recovery and EUA demand may challenge this outlook.
  • Germany’s TSOs are likely to increase grid fees next year, according to the preliminary decision by the TSOs.
  • France will continue investing in nuclear energy, including investments for the construction of new reactors.
  • Planned maintenance at the 915MW Cruas 4 nuclear reactor has been extended by one day until 3 October.
  • Iberdrola received the environmental greenlight for the construction of a 440MW hydro pumped storage power plant in western Spain
  • Czech Cez has entered an MOU with French nuclear supplier Framatome for the development of fuel for its four 1GW reactors, intending to increase efficiency.
  • US Exim bank will give €89.2mn of funding to Romanian firm RoPower for the development of SMRs in the country, with the firm eyeing 463MW of installed capacity.
  • The Danish energy agency has adopted a new plan for future offshore wind farms in the North Sea I area. 
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The CWE and Nordic forward curves have returned some losses from the morning to early afternoon sessions as TTF prices have flipped into green territory amid reports that Iran is preparing to launch a ballistic missile attack against Israel. However, Losses in EU ETS are still placing weight on the curve.

  • Nordic Base Power NOV 24 down 0.6% at 45.15 EUR/MWh
  • Germany Base Power NOV 24 down 0.7% at 89 EUR/MWh
  • EUA DEC 24 down 2.4% at 63.99 EUR/MT
  • TTF Gas NOV 24 up 1.1% at 39.48 EUR/MWh
  • EU ETS Dec 24 has remained in the red – albeit giving back some gains due to TTF – amid weak EU economic data, forecast for above normal temperatures next week potentially keeping thermal expectations limited. Declining EU equities may also be adding some downward pressure.
  • European gas prices have found support from supply fears linked to escalating conflict in the Middle East, with offshore assets potentially at risk. The contract broke through its 30 Sept high resistance, with €40.25/MWh as the next hurdle.
  • European carbon prices could rise to around €70/t CO2e in 4Q, though concerns about economic recovery and EUA demand may challenge this outlook.
  • Germany’s TSOs are likely to increase grid fees next year, according to the preliminary decision by the TSOs.
  • France will continue investing in nuclear energy, including investments for the construction of new reactors.
  • Planned maintenance at the 915MW Cruas 4 nuclear reactor has been extended by one day until 3 October.
  • Iberdrola received the environmental greenlight for the construction of a 440MW hydro pumped storage power plant in western Spain
  • Czech Cez has entered an MOU with French nuclear supplier Framatome for the development of fuel for its four 1GW reactors, intending to increase efficiency.
  • US Exim bank will give €89.2mn of funding to Romanian firm RoPower for the development of SMRs in the country, with the firm eyeing 463MW of installed capacity.
  • The Danish energy agency has adopted a new plan for future offshore wind farms in the North Sea I area.