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POWER: End of Day Power Summary: Nordics Diverge from Germany, France

POWER
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The Nordic power futures have held onto losses towards the end of Monday amid much stronger hydro balances anticipated in both Norway and Sweden from the morning session, with temperatures in the region anticipated to remain above the seasonal average over 26 Nov-5 Dec. French and German power costs have been lifted by prices increases in the energy complex, with gains in France sharper amid stronger price rises in the equivalent second-week ahead compared to Germany.

  • Germany Base Power Week 3 up 5.3% at 128.50 EUR/MWh
  • France Base Power Week 3 up 8.9% at 115.75 EUR/MWh
  • Nordic Base Power DEC 24 down 6.8% at 49.19 EUR/MWh
  • France Base Power DEC 24 up 3.7% at 99.9 EUR/MWh
  • Germany Base Power DEC 24 up 2.5% at 106.41 EUR/MWh
  • EUA DEC 24 up 0.7% at 69.77 EUR/MT
  • TTF Gas DEC 24 up 2% at 47.955 EUR/MWh
  • Rotterdam Coal DEC 24 down 1.1% at 122.25 USD/MT
  • TTF prices are climbing due to high gas storage withdrawals, geopolitical risks, and LNG cargo competition from Asia. Meanwhile, European LNG imports for November are projected to reach 9.16m metric tons, the highest since February, supported by flexible U.S. supply. Temperatures in Northwest Europe are expected to return above seasonal norms from 4 December - which may ease pressure on storage withdrawals.
  • EU ETS Dec24 allowances have held onto gains to be supported by the TTF market, with prices somewhat limited amid losses in EU coal. Below seasonal average weather in NW Europe over 29 Nov- 3 Dec is adding some upward pressure.
  • EdF has extended the outage at its 1.31GW Nogent 2 nuclear reactor to 26 Nov from 25 Nov.
  • Germany’s solar lobby group BSW Solar is criticizing Bnetza that network operators charge fees for the connection of storage systems to the transmission network as it slows down the expansion of large-scale storage projects.
  • Vattenfall’s has cancelled planned maintenance at the 1.17GW Forsmark nuclear reactor for 2025.
  • Nordic grid companies have decided to keep the procurement scheduled for the automatic frequency restoration reserve (aFRR) unchanged in December.
  • Fingrid, along with Estonia's and Latvia's grid operators, is proposing changes to the method of dividing long-term transmission capacity at the Finland-Estonia and Estonia-Latvia border.
  • Ukraine’s DTEK is set to receive €62.8mn from the EC and $46.1mn from the U.S. government to restore 1.8GW of its generation capacity, which was heavily damaged in Russian attacks.
  • Tauron is looking at solutions to continue operations at the 307MW Siersza coal-fired plant after the contract under the country’s capacity reserve ends on 31 December 2025.
  • Poland’s Dec power contract rebounded from the previous session to reach a fresh all-time high as gains in emissions and coal supported the contract. However, temperatures are still set to be above the norm throughout most of the 6-10-day ECMWF forecasts. Day ahead prices soared for delivery on 26 Nov from the previous day amid a sharp drop in wind output, with wind the next day dropping further – likely lifting spot prices.
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The Nordic power futures have held onto losses towards the end of Monday amid much stronger hydro balances anticipated in both Norway and Sweden from the morning session, with temperatures in the region anticipated to remain above the seasonal average over 26 Nov-5 Dec. French and German power costs have been lifted by prices increases in the energy complex, with gains in France sharper amid stronger price rises in the equivalent second-week ahead compared to Germany.

  • Germany Base Power Week 3 up 5.3% at 128.50 EUR/MWh
  • France Base Power Week 3 up 8.9% at 115.75 EUR/MWh
  • Nordic Base Power DEC 24 down 6.8% at 49.19 EUR/MWh
  • France Base Power DEC 24 up 3.7% at 99.9 EUR/MWh
  • Germany Base Power DEC 24 up 2.5% at 106.41 EUR/MWh
  • EUA DEC 24 up 0.7% at 69.77 EUR/MT
  • TTF Gas DEC 24 up 2% at 47.955 EUR/MWh
  • Rotterdam Coal DEC 24 down 1.1% at 122.25 USD/MT
  • TTF prices are climbing due to high gas storage withdrawals, geopolitical risks, and LNG cargo competition from Asia. Meanwhile, European LNG imports for November are projected to reach 9.16m metric tons, the highest since February, supported by flexible U.S. supply. Temperatures in Northwest Europe are expected to return above seasonal norms from 4 December - which may ease pressure on storage withdrawals.
  • EU ETS Dec24 allowances have held onto gains to be supported by the TTF market, with prices somewhat limited amid losses in EU coal. Below seasonal average weather in NW Europe over 29 Nov- 3 Dec is adding some upward pressure.
  • EdF has extended the outage at its 1.31GW Nogent 2 nuclear reactor to 26 Nov from 25 Nov.
  • Germany’s solar lobby group BSW Solar is criticizing Bnetza that network operators charge fees for the connection of storage systems to the transmission network as it slows down the expansion of large-scale storage projects.
  • Vattenfall’s has cancelled planned maintenance at the 1.17GW Forsmark nuclear reactor for 2025.
  • Nordic grid companies have decided to keep the procurement scheduled for the automatic frequency restoration reserve (aFRR) unchanged in December.
  • Fingrid, along with Estonia's and Latvia's grid operators, is proposing changes to the method of dividing long-term transmission capacity at the Finland-Estonia and Estonia-Latvia border.
  • Ukraine’s DTEK is set to receive €62.8mn from the EC and $46.1mn from the U.S. government to restore 1.8GW of its generation capacity, which was heavily damaged in Russian attacks.
  • Tauron is looking at solutions to continue operations at the 307MW Siersza coal-fired plant after the contract under the country’s capacity reserve ends on 31 December 2025.
  • Poland’s Dec power contract rebounded from the previous session to reach a fresh all-time high as gains in emissions and coal supported the contract. However, temperatures are still set to be above the norm throughout most of the 6-10-day ECMWF forecasts. Day ahead prices soared for delivery on 26 Nov from the previous day amid a sharp drop in wind output, with wind the next day dropping further – likely lifting spot prices.