MNI BRIEF: US October Core PCE YoY Rate Rises To 2.8%

MNI NOV CHICAGO BUSINESS BAROMETER 40.2 VS OCT 41.6

MNI China Daily Summary: Wednesday, November 27

MNI BRIEF: Hungarian Banks Strong, But Risks Remain - NBH

RPT:- MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

US EIA:NAT GAS STORAGE -2 BCF TO 3,967 BCF NOV 22 WK

EZ/UK Bond Supply Calendar: Italy Auction, Finland ORI Thurs

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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 Spot Prices to Fall on Higher Wind

POWER
BulletPower BulletsEnergy BulletsCommodities

German spot power is likely to fall with forecasts for stronger wind output. German front-month power base load is edging lower but remains within this week’s range, with upside pressure from EU gas prices and forecasts for cooler weather at the end of the forecast period. 

  • Germany Base Power OCT 24 down 0.6% at 76.08 EUR/MWh
  • EUA DEC 24 up 0.1% at 64.4 EUR/MT
  • TTF Gas OCT 24 up 0.4% at 35.685 EUR/MWh
  • TTF front month is holding steady with the expected return of Norwegian pipeline supplies to Europe set against a cooler weather forecast for the end of the month and into the start of October.
  • EU ETS Dec24 also trading stable, tracking movements in natural gas, ahead of the EUA CoT data release later this morning. The next EU EUA CAP3 EUAA auction will clear today 11:00 CET.
  • Wind output in Germany is forecast to increase on Thursday to 17.21GW during base load, up from 15.98GW forecasted for Wednesday. Solar PV output is forecast be broadly stable on the day at 21.68GW during peak load on Thursday, compared with 21.99GW on Wednesday according to SpotRenewables.
  • The latest ECMWF weather forecast for NW Europe suggested mean temperatures will remain above normal until 27 September, before falling below normal.
  • Power demand in Germany is forecast to reach a maximum of 62.73GW on Wednesday and of 62.44GW on Thursday, Entso-E data showed.
224 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 spot power is likely to fall with forecasts for stronger wind output. German front-month power base load is edging lower but remains within this week’s range, with upside pressure from EU gas prices and forecasts for cooler weather at the end of the forecast period. 

  • Germany Base Power OCT 24 down 0.6% at 76.08 EUR/MWh
  • EUA DEC 24 up 0.1% at 64.4 EUR/MT
  • TTF Gas OCT 24 up 0.4% at 35.685 EUR/MWh
  • TTF front month is holding steady with the expected return of Norwegian pipeline supplies to Europe set against a cooler weather forecast for the end of the month and into the start of October.
  • EU ETS Dec24 also trading stable, tracking movements in natural gas, ahead of the EUA CoT data release later this morning. The next EU EUA CAP3 EUAA auction will clear today 11:00 CET.
  • Wind output in Germany is forecast to increase on Thursday to 17.21GW during base load, up from 15.98GW forecasted for Wednesday. Solar PV output is forecast be broadly stable on the day at 21.68GW during peak load on Thursday, compared with 21.99GW on Wednesday according to SpotRenewables.
  • The latest ECMWF weather forecast for NW Europe suggested mean temperatures will remain above normal until 27 September, before falling below normal.
  • Power demand in Germany is forecast to reach a maximum of 62.73GW on Wednesday and of 62.44GW on Thursday, Entso-E data showed.