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POWER: EU Mid-Day Power Summary: German December Rangebound

POWER
BulletPower BulletsEnergy BulletsCommodities

German front-month power is trading rangebound today with mixed wind output forecasts and losses in the EU energy complex. Nordic December power is edging slightly higher with a downward revision in the region’s hydro balances and colder weather, weighed against lower EU gas prices. 

  • Nordic Base Power DEC 24 up 0.5% at 47.4 EUR/MWh
  • France Base Power DEC 24 down 0.5% at 95.4 EUR/MWh
  • Germany Base Power DEC 24 up 0.1% at 101.6 EUR/MWh
  • EUA DEC 24 down 0.9% at 67.88 EUR/MT
  • TTF Gas DEC 24 down 0.5% at 46.525 EUR/MWh
  • TTF is losing ground today with milder weather across Europe easing pressure on gas storage following the early season withdrawals. The market continues to weigh the supply risk to Russia gas transit via Ukraine along with competition for LNG imports from Asia.
  • EU ETS December 2024 is holding onto losses with lower EU gas prices and forecasts for milder, windier weather. 
  • The latest EU ETS CAP3 auction cleared lower at €67.91/ton CO2e, compared with €69.37/ton CO2e in the previous auction.
  • France’s average nuclear generation so far this month stood at 45.3GW, tracking a year-on-year increase of almost 19% compared with all of November 2023.
  • Germany’s Constitutional Court on Thursday rejected a suit by energy operators of renewable energy plants over a windfall tax on electricity production profits.
  • The schedule of the curtailment on 1.44GW NordLink between Norway-German has been changed, with capacity expected at 684MW over 27-28 Nov 14:00 CET before dropping to 0MW over 28 Nov between 14:00-15:00.
  • The Danish Energy Agency has approved the build of the 165MW Lillebaelt Syd Offshore Wind Farm, set to begin operations in 2029.
  • Norway's electricity demand is forecast to double to 260 TWh/yr by 2050, driven by growing needs across households, industries, transportation, and data centres, risk management firm DNV said.
  • Hungary installed 1.3GW of new solar PV capacity in the Jan-Oct 2024 period with total capacity rising to 7.3GW as of the end of October, government data showed.
  • Serbia has lifted its ban on nuclear energy on Wednesday that was put in place in 1980 as the country aims to invest into nuclear energy according to BNE Intellinews.
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German front-month power is trading rangebound today with mixed wind output forecasts and losses in the EU energy complex. Nordic December power is edging slightly higher with a downward revision in the region’s hydro balances and colder weather, weighed against lower EU gas prices. 

  • Nordic Base Power DEC 24 up 0.5% at 47.4 EUR/MWh
  • France Base Power DEC 24 down 0.5% at 95.4 EUR/MWh
  • Germany Base Power DEC 24 up 0.1% at 101.6 EUR/MWh
  • EUA DEC 24 down 0.9% at 67.88 EUR/MT
  • TTF Gas DEC 24 down 0.5% at 46.525 EUR/MWh
  • TTF is losing ground today with milder weather across Europe easing pressure on gas storage following the early season withdrawals. The market continues to weigh the supply risk to Russia gas transit via Ukraine along with competition for LNG imports from Asia.
  • EU ETS December 2024 is holding onto losses with lower EU gas prices and forecasts for milder, windier weather. 
  • The latest EU ETS CAP3 auction cleared lower at €67.91/ton CO2e, compared with €69.37/ton CO2e in the previous auction.
  • France’s average nuclear generation so far this month stood at 45.3GW, tracking a year-on-year increase of almost 19% compared with all of November 2023.
  • Germany’s Constitutional Court on Thursday rejected a suit by energy operators of renewable energy plants over a windfall tax on electricity production profits.
  • The schedule of the curtailment on 1.44GW NordLink between Norway-German has been changed, with capacity expected at 684MW over 27-28 Nov 14:00 CET before dropping to 0MW over 28 Nov between 14:00-15:00.
  • The Danish Energy Agency has approved the build of the 165MW Lillebaelt Syd Offshore Wind Farm, set to begin operations in 2029.
  • Norway's electricity demand is forecast to double to 260 TWh/yr by 2050, driven by growing needs across households, industries, transportation, and data centres, risk management firm DNV said.
  • Hungary installed 1.3GW of new solar PV capacity in the Jan-Oct 2024 period with total capacity rising to 7.3GW as of the end of October, government data showed.
  • Serbia has lifted its ban on nuclear energy on Wednesday that was put in place in 1980 as the country aims to invest into nuclear energy according to BNE Intellinews.