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POWER: End of Day Power Summary: CWE Power Holds Onto Gains, Nordics Flat

POWER
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CWE power futures are holding onto gains towards the end of the session amid rises in the European energy complex, with temperatures set to drop below the norm. However, the Nordic front-month and front-quarter have ended the day flat as a wetter outlook weighed down the contracts.

  • Nordic Base Power OCT 24 unchanged at 25.85 EUR/MWh
  • France Base Power OCT 24 up 7.9% at 60.45 EUR/MWh
  • Germany Base Power OCT 24 up 4.5% at 79.45 EUR/MWh
  • EUA DEC 24 up 2.4% at 65.39 EUR/MT
  • TTF Gas OCT 24 up 5.9% at 37.51 EUR/MWh
  • Rotterdam Coal OCT 24 up 1.9% at 115.5 USD/MT
  • TTF gas prices have surged to their highest point since 10 Sept, driven by a mix of geopolitical uncertainty, hurricane-related supply threats, and a brief cold snap in Northwestern Europe forecasts over the next few days.
  • EU ETS Dec24 is trading higher today, supported by gains in European gas prices, while speculator positioning in EU ETS futures turning more bearish for the fourth consecutive week.
  • The latest bi-weekly Polish Primary Market Auction cleared lower at €63.55/t CO2e from €64.75/ton CO2e in the previous auction.
  • The unplanned IFA 2 Tourbe-Daedalus interconnector outage has been extended by seven days until 4 October 22:59 CET.
  • Nordic hydropower reserves declined for the first time since week 17 last week (week 38), with stocks at 81.2% of capacity, or 103.03TWh.
  • Swedish Landinfra Energy has inched closer to commissioning its over 5TWh, or about 570MW, Falkenberg-Halmstad offshore wind farm in Sweden as it has started the consultation phase.
  • Disclosed volumes of European PPAs in August dropped by 62% on the month to 460MW, with the monthly average over Jan-Aug at 1.29GW compared to 1.41GW over Jan-July.
  • The Serbian government has approved sites for six large-scale solar PV plants with a combined capacity of 1GW.
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CWE power futures are holding onto gains towards the end of the session amid rises in the European energy complex, with temperatures set to drop below the norm. However, the Nordic front-month and front-quarter have ended the day flat as a wetter outlook weighed down the contracts.

  • Nordic Base Power OCT 24 unchanged at 25.85 EUR/MWh
  • France Base Power OCT 24 up 7.9% at 60.45 EUR/MWh
  • Germany Base Power OCT 24 up 4.5% at 79.45 EUR/MWh
  • EUA DEC 24 up 2.4% at 65.39 EUR/MT
  • TTF Gas OCT 24 up 5.9% at 37.51 EUR/MWh
  • Rotterdam Coal OCT 24 up 1.9% at 115.5 USD/MT
  • TTF gas prices have surged to their highest point since 10 Sept, driven by a mix of geopolitical uncertainty, hurricane-related supply threats, and a brief cold snap in Northwestern Europe forecasts over the next few days.
  • EU ETS Dec24 is trading higher today, supported by gains in European gas prices, while speculator positioning in EU ETS futures turning more bearish for the fourth consecutive week.
  • The latest bi-weekly Polish Primary Market Auction cleared lower at €63.55/t CO2e from €64.75/ton CO2e in the previous auction.
  • The unplanned IFA 2 Tourbe-Daedalus interconnector outage has been extended by seven days until 4 October 22:59 CET.
  • Nordic hydropower reserves declined for the first time since week 17 last week (week 38), with stocks at 81.2% of capacity, or 103.03TWh.
  • Swedish Landinfra Energy has inched closer to commissioning its over 5TWh, or about 570MW, Falkenberg-Halmstad offshore wind farm in Sweden as it has started the consultation phase.
  • Disclosed volumes of European PPAs in August dropped by 62% on the month to 460MW, with the monthly average over Jan-Aug at 1.29GW compared to 1.41GW over Jan-July.
  • The Serbian government has approved sites for six large-scale solar PV plants with a combined capacity of 1GW.