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POWER: EU Mid-Day Power Summary: CWE Holds Onto Gains

POWER
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CWE front-month power futures are trading higher with France leading gains, supported by gains in EU carbon emissions while natural gas prices are seeing a choppy session on Monday. Nordic November power is edging lower despite gains in the German market and a downward revision in Norway’s and Sweden’s hydro balances. 

  • Nordic Base Power NOV 24 down 0.3% at 44.6 EUR/MWh
  • France Base Power NOV 24 up 4.4% at 79.1 EUR/MWh
  • Germany Base Power NOV 24 up 1.7% at 90.3 EUR/MWh
  • EUA DEC 24 up 1.8% at 65.8 EUR/MT
  • TTF Gas NOV 24 up 0.5% at 40.07 EUR/MWh
  • TTF front month is struggling to find a clear direction on Monday with bearish fundamentals amid milder weather while markets await updates on the Middle Eastern situation.
  • EU ETS Dec24 allowances are again diverging from moves in natural gas prices, holding onto gains, while EU gas markets are seeing a choppy session.
  • The latest EU ETS CAP3 auction cleared higher at €65/ton CO2e, compared with €63.30/ton CO2 in the previous auction.
  • EdF has taken the Sizewell B nuclear reactor offline on 11 October for around two months amid a major overhaul.
  • The General Secretaries of Prospect and the GMB union have urged on the government in a joint letter to approve the FID for the proposed Sizewell C nuclear power plant.
  • Finland’s Ministry of Economic Affairs and Employment granted €72.6mn of investments to 13 clean energy projects.
  • Norway’s hydrological balance has been further revised down to reach 755.9GWh on 28 October, down from 1.04GWh forecasted this morning.
  • Sweden’s balance has also been revised down to reach now 891.8GWh on 28 October, down from 1.03TWh forecasted as of this morning.
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CWE front-month power futures are trading higher with France leading gains, supported by gains in EU carbon emissions while natural gas prices are seeing a choppy session on Monday. Nordic November power is edging lower despite gains in the German market and a downward revision in Norway’s and Sweden’s hydro balances. 

  • Nordic Base Power NOV 24 down 0.3% at 44.6 EUR/MWh
  • France Base Power NOV 24 up 4.4% at 79.1 EUR/MWh
  • Germany Base Power NOV 24 up 1.7% at 90.3 EUR/MWh
  • EUA DEC 24 up 1.8% at 65.8 EUR/MT
  • TTF Gas NOV 24 up 0.5% at 40.07 EUR/MWh
  • TTF front month is struggling to find a clear direction on Monday with bearish fundamentals amid milder weather while markets await updates on the Middle Eastern situation.
  • EU ETS Dec24 allowances are again diverging from moves in natural gas prices, holding onto gains, while EU gas markets are seeing a choppy session.
  • The latest EU ETS CAP3 auction cleared higher at €65/ton CO2e, compared with €63.30/ton CO2 in the previous auction.
  • EdF has taken the Sizewell B nuclear reactor offline on 11 October for around two months amid a major overhaul.
  • The General Secretaries of Prospect and the GMB union have urged on the government in a joint letter to approve the FID for the proposed Sizewell C nuclear power plant.
  • Finland’s Ministry of Economic Affairs and Employment granted €72.6mn of investments to 13 clean energy projects.
  • Norway’s hydrological balance has been further revised down to reach 755.9GWh on 28 October, down from 1.04GWh forecasted this morning.
  • Sweden’s balance has also been revised down to reach now 891.8GWh on 28 October, down from 1.03TWh forecasted as of this morning.