MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Japan Oct Core CPI Rises 2.3%, Services Rise

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

MNI BRIEF: China To Enhance Support For Foreign Trade - MOFCOM

MNI: UK NOV GFK CONSUMER CONFIDENCE INDEX -18

MNI JAPAN OCT CORE CPI +2.3% Y/Y; SEPT +2.4%

MNI: FED BALANCE SHEET TOTAL ASSETS -$43B TO $6.924T IN WEEK

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

POWER: Mid-Day Power Summary: CWE Falls on Energy Complex

POWER
BulletPower BulletsEnergy BulletsCommodities

 CWE power curves are pulling back today, weighed on by losses in the wider European energy complex. Nordic front-month futures are stable on the day as a downward revision in Sweden’s and Norway’s hydrobalance is weighed against losses in the German power market and EU natural gas market. 

  • Nordic Base Power OCT 24 unchanged at 22.5 EUR/MWh
  • France Base Power OCT 24 down 2.7% at 62.5 EUR/MWh
  • Germany Base Power OCT 24 down 1.8% at 79.14 EUR/MWh
  • EUA DEC 24 down 0.8% at 65.88 EUR/MT
  • TTF Gas OCT 24 down 1.6% at 35.58 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 latest EU ETS CAP3 EU auction cleared lower at €65.10/ton CO2e, down from €65.83/ton CO2e in the previous auction.
  • Europe added 6.4GW of Wind in 1H24, with 5.3GW being onshore and the remaining offshore, however, further improvements are needed in the auction design, with grid bottlenecks delaying projects.
  • Italian hydropower reserves last week were broadly stable on the week at 3.23TWh, compared with 3.24TWh the week prior.
  • Italian gas-fired power generation this month is on track to be the highest for any month since July 2022, with daily output in early September rising to the highest since early January.
  • Nordic power price may rise above the Germany market by 2030 if investment in new power generation capacity is not picking up.
  • Romania has launched its first renewable auction under a 15-year CfD scheme to support 1.5GW of onshore wind and solar PV projects, with bids open by mid-Nov. 
287 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.

 CWE power curves are pulling back today, weighed on by losses in the wider European energy complex. Nordic front-month futures are stable on the day as a downward revision in Sweden’s and Norway’s hydrobalance is weighed against losses in the German power market and EU natural gas market. 

  • Nordic Base Power OCT 24 unchanged at 22.5 EUR/MWh
  • France Base Power OCT 24 down 2.7% at 62.5 EUR/MWh
  • Germany Base Power OCT 24 down 1.8% at 79.14 EUR/MWh
  • EUA DEC 24 down 0.8% at 65.88 EUR/MT
  • TTF Gas OCT 24 down 1.6% at 35.58 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 latest EU ETS CAP3 EU auction cleared lower at €65.10/ton CO2e, down from €65.83/ton CO2e in the previous auction.
  • Europe added 6.4GW of Wind in 1H24, with 5.3GW being onshore and the remaining offshore, however, further improvements are needed in the auction design, with grid bottlenecks delaying projects.
  • Italian hydropower reserves last week were broadly stable on the week at 3.23TWh, compared with 3.24TWh the week prior.
  • Italian gas-fired power generation this month is on track to be the highest for any month since July 2022, with daily output in early September rising to the highest since early January.
  • Nordic power price may rise above the Germany market by 2030 if investment in new power generation capacity is not picking up.
  • Romania has launched its first renewable auction under a 15-year CfD scheme to support 1.5GW of onshore wind and solar PV projects, with bids open by mid-Nov.