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POWER: German December Down 4.7% On Week

POWER
CEEMEAEurozoneEnergy BulletsGermanyBulletPower BulletsCommodities

Germany December power is moving down for the fourth consecutive session to track losses in TTF, with above seasonal temps in Dusseldorf forecasts for most days over 6-10 ECMWF estimates. It has now been at its lowest level since 13 November and is down by around 4.75% compared to the settled price last week Friday.

  • Germany Base Power DEC 24 down 1.7% at 98.92 EUR/MWh
  • EUA DEC 24 up 0.1% at 67.72 EUR/MT
  • TTF Gas JAN 25 down 0.4% at 46.5 EUR/MWh
  • Rotterdam Coal DEC 24 down 0.1% at 119.6 USD/MT
  • TTF remains stable but is set for a net weekly decline with market focus still on weather and supply risk from Russia's gas transit via Ukraine and LNG competition from Asia.
  • EU ETS December 2024 is slightly diverging from losses in EU gas but forecasts for continued milder weather in NW Europe and firm wind for most days next week – specifically in Germany – may cap gains. The contract is also tracking a weekly net decline.
  • Wind output in Germany is forecast to rise on Saturday to 13.96GW during base load, up from 6.59GW forecasted for Friday – coupled with a drop in demand delivery costs may be weighed down.
  • Solar PV output is forecast to increase to 17.72GW during peak load on Saturday, up from 7.70GW forecasted for Friday according to SpotRenewables.
  • The latest 6-10 day ECMWF weather forecast for Dusseldorf suggested mean temperatures have been revised up on the day over 29 Nov-3 Dec, with temperatures most days above the seasonal normal heading into mid-December
  • But mean temperatures in Dusseldorf are forecast to fall to 3.35C on Saturday from 4.08C on Friday and below the average of 4.8C.
  • Power demand in Germany is forecast to drop to 51.91GW on Saturday from 60.28GW forecasted for Friday according to Bloomberg.
  • Germany’s hydrobalance has been revised up on the day to end at -113GWh on 13 December, compared with -162GWh forecasted a day earlier.
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Germany December power is moving down for the fourth consecutive session to track losses in TTF, with above seasonal temps in Dusseldorf forecasts for most days over 6-10 ECMWF estimates. It has now been at its lowest level since 13 November and is down by around 4.75% compared to the settled price last week Friday.

  • Germany Base Power DEC 24 down 1.7% at 98.92 EUR/MWh
  • EUA DEC 24 up 0.1% at 67.72 EUR/MT
  • TTF Gas JAN 25 down 0.4% at 46.5 EUR/MWh
  • Rotterdam Coal DEC 24 down 0.1% at 119.6 USD/MT
  • TTF remains stable but is set for a net weekly decline with market focus still on weather and supply risk from Russia's gas transit via Ukraine and LNG competition from Asia.
  • EU ETS December 2024 is slightly diverging from losses in EU gas but forecasts for continued milder weather in NW Europe and firm wind for most days next week – specifically in Germany – may cap gains. The contract is also tracking a weekly net decline.
  • Wind output in Germany is forecast to rise on Saturday to 13.96GW during base load, up from 6.59GW forecasted for Friday – coupled with a drop in demand delivery costs may be weighed down.
  • Solar PV output is forecast to increase to 17.72GW during peak load on Saturday, up from 7.70GW forecasted for Friday according to SpotRenewables.
  • The latest 6-10 day ECMWF weather forecast for Dusseldorf suggested mean temperatures have been revised up on the day over 29 Nov-3 Dec, with temperatures most days above the seasonal normal heading into mid-December
  • But mean temperatures in Dusseldorf are forecast to fall to 3.35C on Saturday from 4.08C on Friday and below the average of 4.8C.
  • Power demand in Germany is forecast to drop to 51.91GW on Saturday from 60.28GW forecasted for Friday according to Bloomberg.
  • Germany’s hydrobalance has been revised up on the day to end at -113GWh on 13 December, compared with -162GWh forecasted a day earlier.