MNI BRIEF: Canada Household Debt Tops CAD3 Trillion

ECB: SEES INFLA 2.5% IN '24, 2.2% '25, 1.9% '26

MNI: ECB CUTS KEY DEPOSIT RATE 25 BPS TO 3.50%

MNI China Daily Summary: Thursday, Sept 12

MNI BRIEF: China’s Foreign Investors Remain Positive

MNI BRIEF: China Aluminium Rebound Likely In September

US EIA:NAT GAS STORAGE +40 BCF TO 3,387 BCF SEP 06 WK

MNI: US JOBLESS CLAIMS +2K TO 230K IN SEP 07 WK

MNI: CANADIAN JUL BUILDING PERMITS +22.1% MOM

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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

POWER: German Spot Power May Increase on Lower Wind

POWER
BulletPower BulletsEnergy BulletsCommodities

German front-month power is broadly stable on the day with stable European carbon allowances and natural gas prices. German spot power prices are likely to increase for Thursday’s delivery amid forecasts for lower wind, while solar PV output is forecast to edge higher. 

  • TTF front month is stable today after yesterday falling to the lowest since Aug 7 driven by an easing of supply risk sentiment and with a slight recovery in Norwegian supplies on the day.
  • EU ETS Dec24 is edging slightly higher on Wednesday. There will be no auction today. The latest ICE EUA COT data will be released this morning. 
  • The latest 6-10 days ECMWF weather forecast for NW Europe suggested mean temperatures have been revised down at the start of the forecast period but temperatures will remain mostly above the seasonal normal throughout the forecast period. 
  • In Germany, wind output is forecast to ease back on Thursday to 16.75GW during base load, down from 19.44GW forecast for Wednesday. Solar PV output is forecast to increase on the day to 13.25GW during base load, up from 12.7GW forecast for Wednesday according to SpotRenewables.
  • Power demand in Germany is forecast at a maximum of 62.56GW on Thursday, slightly up from a maximum of 62.45GW on Wednesday, the latest BBG ECMWF forecast showed. 
  • In Switzerland, hydropower stocks increased by 0.5 percentage points last week to 83.6% of capacity, narrowing the premium to the five-year and long-term averages, BFE data showed. 
    • Germany Base Power SEP 24 down 0.2% at 91.65 EUR/MWh
    • EUA DEC 24 up 0.3% at 73.29 EUR/MT
    • TTF Gas SEP 24 down 0% at 37.94 EUR/MWh
264 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.

German front-month power is broadly stable on the day with stable European carbon allowances and natural gas prices. German spot power prices are likely to increase for Thursday’s delivery amid forecasts for lower wind, while solar PV output is forecast to edge higher. 

  • TTF front month is stable today after yesterday falling to the lowest since Aug 7 driven by an easing of supply risk sentiment and with a slight recovery in Norwegian supplies on the day.
  • EU ETS Dec24 is edging slightly higher on Wednesday. There will be no auction today. The latest ICE EUA COT data will be released this morning. 
  • The latest 6-10 days ECMWF weather forecast for NW Europe suggested mean temperatures have been revised down at the start of the forecast period but temperatures will remain mostly above the seasonal normal throughout the forecast period. 
  • In Germany, wind output is forecast to ease back on Thursday to 16.75GW during base load, down from 19.44GW forecast for Wednesday. Solar PV output is forecast to increase on the day to 13.25GW during base load, up from 12.7GW forecast for Wednesday according to SpotRenewables.
  • Power demand in Germany is forecast at a maximum of 62.56GW on Thursday, slightly up from a maximum of 62.45GW on Wednesday, the latest BBG ECMWF forecast showed. 
  • In Switzerland, hydropower stocks increased by 0.5 percentage points last week to 83.6% of capacity, narrowing the premium to the five-year and long-term averages, BFE data showed. 
    • Germany Base Power SEP 24 down 0.2% at 91.65 EUR/MWh
    • EUA DEC 24 up 0.3% at 73.29 EUR/MT
    • TTF Gas SEP 24 down 0% at 37.94 EUR/MWh