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POWER: End of Day Power Summary: Germany & France Holds Losses, Spain Eases

POWER
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The German and French power Oct base-load contracts have remained in red territory towards the end of Wednesday’s session as loess in the general energy complex weighed. Retreat of the Spanish equivalent has eased amid a small recovery in European gas from midday lows.

  • Spain Base Power OCT 24 down 0.6% at 71.2 EUR/MWh
  • France Base Power OCT 24 down 1.2% at 58.4 EUR/MWh
  • Germany Base Power OCT 24 down 0.8% at 75.9 EUR/MWh
  • EUA DEC 24 down 0.8% at 63.8 EUR/MT
  • TTF Gas OCT 24 up 0.1% at 35.57 EUR/MWh
  • Rotterdam Coal OCT 24 down 1.3% at 112.75 USD/MT
  • The EU ETS Dec24 contract is retreating today, pressured by declines in natural gas and a resurgence of bearish sentiment reflected in recent fund positioning data.
  • The TTF front-month has partially recovered. The pressure stems from the anticipated return of Norwegian pipeline supplies, while cooler weather forecasts for late September and October limit further declines.
  • The latest UKA ICR auction cleared at £39.20/ton CO2e, compared with the previous auction at £40.9/ton CO2e.
  • Italian Prime Minister Giorgia Meloni criticised the EU’s targets to end the sale of combustion engine cars by 2035 because it would hurt the sector.
  • The UK has only operated around 20% of its gas-fired (CCGT) capacity for over half the year due to higher wind, solar and imports from Norway and France.
  • Nordic hydropower reserves gained at a faster pace last week (week 37), with stocks at 81.9% of capacity, or 104.02TWh amid a sharp on-week rise in precipitation.
  • Bulgaria’s NEK has launched a tender to replace two 216MW turbines at its 864MW Chaira hydro pump storage plant, with 42 months set as the deadline to complete works.
  • EdF will begin the testing phase of the 885MW Seraing II CCGT unit in Belgium on 15 May 2025, with commercial operations due to begin on 1 December 2025.
  • Belgium is planning to hold a battery storage capacity auction in October 2025, for capacity available during the winter 2027-2028.
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The German and French power Oct base-load contracts have remained in red territory towards the end of Wednesday’s session as loess in the general energy complex weighed. Retreat of the Spanish equivalent has eased amid a small recovery in European gas from midday lows.

  • Spain Base Power OCT 24 down 0.6% at 71.2 EUR/MWh
  • France Base Power OCT 24 down 1.2% at 58.4 EUR/MWh
  • Germany Base Power OCT 24 down 0.8% at 75.9 EUR/MWh
  • EUA DEC 24 down 0.8% at 63.8 EUR/MT
  • TTF Gas OCT 24 up 0.1% at 35.57 EUR/MWh
  • Rotterdam Coal OCT 24 down 1.3% at 112.75 USD/MT
  • The EU ETS Dec24 contract is retreating today, pressured by declines in natural gas and a resurgence of bearish sentiment reflected in recent fund positioning data.
  • The TTF front-month has partially recovered. The pressure stems from the anticipated return of Norwegian pipeline supplies, while cooler weather forecasts for late September and October limit further declines.
  • The latest UKA ICR auction cleared at £39.20/ton CO2e, compared with the previous auction at £40.9/ton CO2e.
  • Italian Prime Minister Giorgia Meloni criticised the EU’s targets to end the sale of combustion engine cars by 2035 because it would hurt the sector.
  • The UK has only operated around 20% of its gas-fired (CCGT) capacity for over half the year due to higher wind, solar and imports from Norway and France.
  • Nordic hydropower reserves gained at a faster pace last week (week 37), with stocks at 81.9% of capacity, or 104.02TWh amid a sharp on-week rise in precipitation.
  • Bulgaria’s NEK has launched a tender to replace two 216MW turbines at its 864MW Chaira hydro pump storage plant, with 42 months set as the deadline to complete works.
  • EdF will begin the testing phase of the 885MW Seraing II CCGT unit in Belgium on 15 May 2025, with commercial operations due to begin on 1 December 2025.
  • Belgium is planning to hold a battery storage capacity auction in October 2025, for capacity available during the winter 2027-2028.