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POWER: German Spot to Rise on Lower Wind

POWER
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German front-month power is edging higher with small gains in the energy complex. German spot power is expected to further rise for Thursday’s delivery amid forecasts for lower wind. 

  • Germany Base Power OCT 24 up 0.3% at 80.1 EUR/MWh
  • EUA DEC 24 up 0.3% at 65.1 EUR/MT
  • TTF Gas OCT 24 up 0.5% at 35.475 EUR/MWh
  • TTF front month edges higher after a decline to new lows of the month at €34.67/MWh yesterday. European fundamentals are coping despite current pipeline supply cuts and US LNG supply risks due to a hurricane in the US Gulf.
  • EU ETS Dec24 is edging higher today with gains in natural gas prices.
  • The next Polish EUA CAP3 auction will clear today 11:00 CET.
  • Wind output in Germany is forecast to fall on the day to 6.31GW during base load on Thursday, compared with 18.53GW forecast for Wednesday. Solar PV output is forecast to rise to 15.64GW during peak load on Thursday, up from 11.5GW forecast for Wednesday according to SpotRenewables.
  • The latest ECMWF weather forecast for NW Europe suggested mean temperatures below the seasonal normal until 16 September, before rising above normal.
  • Power demand in Germany is forecast at a maximum of 64.73GW on Wednesday and of 64.49GW on Thursday, Entso-E data showed.
  • German net power imports from France are scheduled at 2.65GW on Wednesday, compared with the five-day moving average of 1.72GW, Entso-E data showed.
  • In Switzerland, hydro stocks declined for the second consecutive week to 83% of capacity as of 9 September, BFE data showed. 
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German front-month power is edging higher with small gains in the energy complex. German spot power is expected to further rise for Thursday’s delivery amid forecasts for lower wind. 

  • Germany Base Power OCT 24 up 0.3% at 80.1 EUR/MWh
  • EUA DEC 24 up 0.3% at 65.1 EUR/MT
  • TTF Gas OCT 24 up 0.5% at 35.475 EUR/MWh
  • TTF front month edges higher after a decline to new lows of the month at €34.67/MWh yesterday. European fundamentals are coping despite current pipeline supply cuts and US LNG supply risks due to a hurricane in the US Gulf.
  • EU ETS Dec24 is edging higher today with gains in natural gas prices.
  • The next Polish EUA CAP3 auction will clear today 11:00 CET.
  • Wind output in Germany is forecast to fall on the day to 6.31GW during base load on Thursday, compared with 18.53GW forecast for Wednesday. Solar PV output is forecast to rise to 15.64GW during peak load on Thursday, up from 11.5GW forecast for Wednesday according to SpotRenewables.
  • The latest ECMWF weather forecast for NW Europe suggested mean temperatures below the seasonal normal until 16 September, before rising above normal.
  • Power demand in Germany is forecast at a maximum of 64.73GW on Wednesday and of 64.49GW on Thursday, Entso-E data showed.
  • German net power imports from France are scheduled at 2.65GW on Wednesday, compared with the five-day moving average of 1.72GW, Entso-E data showed.
  • In Switzerland, hydro stocks declined for the second consecutive week to 83% of capacity as of 9 September, BFE data showed.