FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

POWER: EU Mid-Day Power Summary: CWE, Nordics Remain Red

POWER
BulletPower BulletsEnergy BulletsCommodities

Front-month power futures in CWE and the Nordics are down on the day amid losses in the wider energy complex, while an upward revision in Sweden’s hydro balance offered additional downside for Nordic futures.

  • Nordic Base Power OCT 24 down 1.1% at 23 EUR/MWh
  • France Base Power OCT 24 down 2.3% at 57.72 EUR/MWh
  • Germany Base Power OCT 24 down 2.2% at 74.8 EUR/MWh
  • EUA DEC 24 down 0.2% at 64.18 EUR/MT
  • TTF Gas OCT 24 down 0.9% at 35.215 EUR/MWh
  • TTF front month is pulling back with diminishing supply risks due to return of Norwegian pipeline supplies.
  • EU ETS Dec24 is pulling back today, weighed on by losses in natural gas and renewed bearish sentiment in the latest funds positioning data.
  • Speculator positioning in EU ETS futures on the ICE exchange turned more bearish for the third consecutive week with net short positioning increasing to the highest since early August.
  • Investment funds positioning in ICE German power futures decreased their net long position from the previous week for the first time in two weeks.
  • The UK’s 2.2GW Ratcliffe-on Soar coal-fired plant – the last remaining unit in the UK- will shut down on 30 September, with the last batch of coal shipped to the plant being on Friday.
  • Italy needs to speed up plans to build out new nuclear generation capacity to be less dependent on French power imports that cause higher prices, Confindustria president, Emanuele Orsini, said.
  • Fortum and Uniper are studying the feasibility of a lifetime extension to 80 years of the Oskarshamn nuclear power plant in Finland.
  • Orsted signed an agreement to sell carbon dioxide removal (CDR) credits totalling 330,000 tonnes of CO2 to Equinor over a period of ten years.
274 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Front-month power futures in CWE and the Nordics are down on the day amid losses in the wider energy complex, while an upward revision in Sweden’s hydro balance offered additional downside for Nordic futures.

  • Nordic Base Power OCT 24 down 1.1% at 23 EUR/MWh
  • France Base Power OCT 24 down 2.3% at 57.72 EUR/MWh
  • Germany Base Power OCT 24 down 2.2% at 74.8 EUR/MWh
  • EUA DEC 24 down 0.2% at 64.18 EUR/MT
  • TTF Gas OCT 24 down 0.9% at 35.215 EUR/MWh
  • TTF front month is pulling back with diminishing supply risks due to return of Norwegian pipeline supplies.
  • EU ETS Dec24 is pulling back today, weighed on by losses in natural gas and renewed bearish sentiment in the latest funds positioning data.
  • Speculator positioning in EU ETS futures on the ICE exchange turned more bearish for the third consecutive week with net short positioning increasing to the highest since early August.
  • Investment funds positioning in ICE German power futures decreased their net long position from the previous week for the first time in two weeks.
  • The UK’s 2.2GW Ratcliffe-on Soar coal-fired plant – the last remaining unit in the UK- will shut down on 30 September, with the last batch of coal shipped to the plant being on Friday.
  • Italy needs to speed up plans to build out new nuclear generation capacity to be less dependent on French power imports that cause higher prices, Confindustria president, Emanuele Orsini, said.
  • Fortum and Uniper are studying the feasibility of a lifetime extension to 80 years of the Oskarshamn nuclear power plant in Finland.
  • Orsted signed an agreement to sell carbon dioxide removal (CDR) credits totalling 330,000 tonnes of CO2 to Equinor over a period of ten years.