MNI: Japan Govt Keeps Economic Assessment, Ups Imports

MNI BRIEF: China Supports Globalisation Despite Turbulence

MNI: PBOC Net Injects CNY11.0 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1910 Tues; -1.46% Y/Y

MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: UK NOV BRC SHOP PRICES +0.2% M/M, -0.6% Y/Y

MNI: JAPAN OCT SERVICES PPI +2.9% Y/Y; SEPT REV +2.8%

EZ/UK T-Bill Calendar: 2/3-Month ATB Auction on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

POWER: German December Pulls Back on Weather, Energy Complex

POWER
CEEMEAEurozoneEnergy BulletsGermanyBulletPower BulletsCommodities

Germany December power is pulling back to the lowest since 20 November with an upward revision in temperature forecasts, an upward revision in wind output and losses in the energy complex. The German spot index is expected to rise on the day with higher residual load due to lower renewables output and slightly higher demand.

  • Germany Base Power DEC 24 down 3% at 102.85 EUR/MWh
  • EUA DEC 24 down 1.5% at 68.79 EUR/MT
  • TTF Gas DEC 24 down 1.4% at 47.075 EUR/MWh
  • German Spark Spreads M1  down 36.5% at -10.7609 EUR/MWh
  • TTF drifts lower with European temperatures holding near normal and as storage withdrawals return to seasonal normal levels.
  • EU ETS December 2024 is pulling back today with losses in EU gas prices an upward revision in NW European weather forecasts. This is despite improved coal margins vs gas in recent days amid rallying EU gas prices. 
  • The next EU Primary Auction CAP3 EUA auction will clear today 11:00 CET.
  • Wind output in Germany is forecast to fall to 22.81GW during base load on Wednesday, down from 23.65GW forecasted for Tuesday. Solar PV output is forecast to decline to 4.42GW during peak load on Wednesday, down from 5.28GW forecasted for Tuesday according to SpotRenewables.
  • The latest 6-10 day ECMWF weather forecast for Dusseldorf suggested mean temperatures have been revised higher with temperatures mixed below and above normal through the forecast period.
  • Mean temperatures in Dusseldorf are forecast to fall to 8C on Wednesday, down from 8.4C on Tuesday and above the seasonal normal of 5.1C.
  • Power demand in Germany is forecast to edge higher to 60.62GW on Wednesday, up from 60.41GW on Tuesday according to Bloomberg.
  • Residual load in Germany is forecast to rise by 6.3GWh/h on the day according to Reuters.
  • Germany’s hydrobalance has been revised down on the day to end at -395GWh on 10 December, down from -358GWh forecasted a day earlier. 
306 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.

Germany December power is pulling back to the lowest since 20 November with an upward revision in temperature forecasts, an upward revision in wind output and losses in the energy complex. The German spot index is expected to rise on the day with higher residual load due to lower renewables output and slightly higher demand.

  • Germany Base Power DEC 24 down 3% at 102.85 EUR/MWh
  • EUA DEC 24 down 1.5% at 68.79 EUR/MT
  • TTF Gas DEC 24 down 1.4% at 47.075 EUR/MWh
  • German Spark Spreads M1  down 36.5% at -10.7609 EUR/MWh
  • TTF drifts lower with European temperatures holding near normal and as storage withdrawals return to seasonal normal levels.
  • EU ETS December 2024 is pulling back today with losses in EU gas prices an upward revision in NW European weather forecasts. This is despite improved coal margins vs gas in recent days amid rallying EU gas prices. 
  • The next EU Primary Auction CAP3 EUA auction will clear today 11:00 CET.
  • Wind output in Germany is forecast to fall to 22.81GW during base load on Wednesday, down from 23.65GW forecasted for Tuesday. Solar PV output is forecast to decline to 4.42GW during peak load on Wednesday, down from 5.28GW forecasted for Tuesday according to SpotRenewables.
  • The latest 6-10 day ECMWF weather forecast for Dusseldorf suggested mean temperatures have been revised higher with temperatures mixed below and above normal through the forecast period.
  • Mean temperatures in Dusseldorf are forecast to fall to 8C on Wednesday, down from 8.4C on Tuesday and above the seasonal normal of 5.1C.
  • Power demand in Germany is forecast to edge higher to 60.62GW on Wednesday, up from 60.41GW on Tuesday according to Bloomberg.
  • Residual load in Germany is forecast to rise by 6.3GWh/h on the day according to Reuters.
  • Germany’s hydrobalance has been revised down on the day to end at -395GWh on 10 December, down from -358GWh forecasted a day earlier.