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POWER: End of Day Summary: CWE Power Edges Lower on Energy Complex   

POWER
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CWE front-month power futures have given back some losses but remained down on the day with losses in the energy complex. Nordic front-month futures ended the session in red with losses in EU gas and the German power prices and an upward revision in Norway’s hydrobalance. 

  • Nordic Base Power NOV 24 down 0.9% at 44.1 EUR/MWh
  • France Base Power NOV 24 down 0.4% at 79 EUR/MWh
  • Germany Base Power NOV 24 down 1.1% at 89.85 EUR/MWh
  • EUA DEC 24 down 1.4% at 65.07 EUR/MT
  • TTF Gas NOV 24 down 1.6% at 39.905 EUR/MWh
  • TTF front month has given back some losses but continued to trade lower on the day with news that Israel told the US that it would not target Iran’s oil and nuclear infrastructure, while forecast for mild weather in NW Europe is limiting demand.
  • EU ETS Dec24 allowances have been holding onto losses in Tuesday’s session with declines in EU gas prices. The latest EU ETS CAP3 auction cleared lower at €64.08/ton CO2e, down from €65/ton CO2e in the previous auction.
  • Germany added 962.4MW of new solar PV capacity in September, slightly up from 921.6MW in August.
  • The latest German innovation and biomethane tender round with a deadline on 1 September has been oversubscribed.
  • The EU environment ministers have agreed on the bloc’s negotiating stance ahead of the COP29 summit in November.
  • French hydropower reserves last week – calendar week 41 – increased by 2.06 percentage points to 87.4% of capacity, the highest level so far this year.
  • The UK is eyeing to lower the threshold for investments required by gas-fired power plants to be updated to participate in the UK’s capacity market in order to secure security of power supply.
  • Swiss hydropower reserves last week increased by 3.1 percentage points to 85.7% of capacity, the highest level so far this year, while switching back to a surplus to the long-term average.
  • Spanish hydropower reserves last week saw the first weekly increase since end of May to rise to 48.5% of capacity, up from 47.5% of capacity the week before.
  • Sainsbury has signed a PPA with Capital Dynamics to purchase the full electricity of the new 33.6MW Pines Burn onshore wind farm in Scotland.
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CWE front-month power futures have given back some losses but remained down on the day with losses in the energy complex. Nordic front-month futures ended the session in red with losses in EU gas and the German power prices and an upward revision in Norway’s hydrobalance. 

  • Nordic Base Power NOV 24 down 0.9% at 44.1 EUR/MWh
  • France Base Power NOV 24 down 0.4% at 79 EUR/MWh
  • Germany Base Power NOV 24 down 1.1% at 89.85 EUR/MWh
  • EUA DEC 24 down 1.4% at 65.07 EUR/MT
  • TTF Gas NOV 24 down 1.6% at 39.905 EUR/MWh
  • TTF front month has given back some losses but continued to trade lower on the day with news that Israel told the US that it would not target Iran’s oil and nuclear infrastructure, while forecast for mild weather in NW Europe is limiting demand.
  • EU ETS Dec24 allowances have been holding onto losses in Tuesday’s session with declines in EU gas prices. The latest EU ETS CAP3 auction cleared lower at €64.08/ton CO2e, down from €65/ton CO2e in the previous auction.
  • Germany added 962.4MW of new solar PV capacity in September, slightly up from 921.6MW in August.
  • The latest German innovation and biomethane tender round with a deadline on 1 September has been oversubscribed.
  • The EU environment ministers have agreed on the bloc’s negotiating stance ahead of the COP29 summit in November.
  • French hydropower reserves last week – calendar week 41 – increased by 2.06 percentage points to 87.4% of capacity, the highest level so far this year.
  • The UK is eyeing to lower the threshold for investments required by gas-fired power plants to be updated to participate in the UK’s capacity market in order to secure security of power supply.
  • Swiss hydropower reserves last week increased by 3.1 percentage points to 85.7% of capacity, the highest level so far this year, while switching back to a surplus to the long-term average.
  • Spanish hydropower reserves last week saw the first weekly increase since end of May to rise to 48.5% of capacity, up from 47.5% of capacity the week before.
  • Sainsbury has signed a PPA with Capital Dynamics to purchase the full electricity of the new 33.6MW Pines Burn onshore wind farm in Scotland.