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POWER: German Spot Power to Fall on Higher Wind

POWER
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German front-month power is pulling back today but remains within this week’s range with downside from lower EU natural gas and carbon prices. German spot power is expected to decline on the day amid forecasts for lower demand and higher wind output. 

  • Germany Base Power OCT 24 down 1.1% at 79.77 EUR/MWh
  • EUA DEC 24 down 0.4% at 66.16 EUR/MT
  • TTF Gas OCT 24 down 0.9% at 35.8 EUR/MWh
  • TTF eases back from gains seen yesterday as Hurricane Francine made landfall in Louisiana avoiding some US LNG terminals while gas supplies to Europe remain steady despite previous concern for Ukraine transit flows.
  • EU ETS Dec24 is trending lower day, with losses in natural gas market and renewed bearish sentiment in EUA funds positioning. The next EU EUA CAP3 auction will clear today 11:00 CET.
  • Wind output in Germany is forecast to rise on the day to 12.13GW during base load on Friday, up from 6.31GW forecasted for Thursday. Solar PV output is forecast to decline on Friday to 11.43GW during peak load, down from 15.64GW forecasted for Thursday according to SpotRenewables.
  • The latest ECMWF weather forecast for NW Europe suggested mean temperatures below the seasonal normal until 17 September, before rising above normal.
  • Power demand in Germany is forecast at a maximum of 64.49GW on Thursday and of 62.41GW on Friday, Entso-E data showed.
  • German net power imports from France are scheduled at 2.16GW on Thursday, compared with the five-day moving average of 2.01GW.
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German front-month power is pulling back today but remains within this week’s range with downside from lower EU natural gas and carbon prices. German spot power is expected to decline on the day amid forecasts for lower demand and higher wind output. 

  • Germany Base Power OCT 24 down 1.1% at 79.77 EUR/MWh
  • EUA DEC 24 down 0.4% at 66.16 EUR/MT
  • TTF Gas OCT 24 down 0.9% at 35.8 EUR/MWh
  • TTF eases back from gains seen yesterday as Hurricane Francine made landfall in Louisiana avoiding some US LNG terminals while gas supplies to Europe remain steady despite previous concern for Ukraine transit flows.
  • EU ETS Dec24 is trending lower day, with losses in natural gas market and renewed bearish sentiment in EUA funds positioning. The next EU EUA CAP3 auction will clear today 11:00 CET.
  • Wind output in Germany is forecast to rise on the day to 12.13GW during base load on Friday, up from 6.31GW forecasted for Thursday. Solar PV output is forecast to decline on Friday to 11.43GW during peak load, down from 15.64GW forecasted for Thursday according to SpotRenewables.
  • The latest ECMWF weather forecast for NW Europe suggested mean temperatures below the seasonal normal until 17 September, before rising above normal.
  • Power demand in Germany is forecast at a maximum of 64.49GW on Thursday and of 62.41GW on Friday, Entso-E data showed.
  • German net power imports from France are scheduled at 2.16GW on Thursday, compared with the five-day moving average of 2.01GW.