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

POWER
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CWE front-month power futures are pulling back today with losses in the wider European energy complex. Nordic front-month futures are also trading lower with an upward revision in Sweden’s and Norway’s hydrobalances and additional downside from Germany and EU gas. 

  • Nordic Base Power NOV 24 down 3.1% at 44 EUR/MWh
  • France Base Power NOV 24 down 4.3% at 76.05 EUR/MWh
  • Germany Base Power NOV 24 down 3.5% at 86.5 EUR/MWh
  • EUA DEC 24 down 3% at 63.61 EUR/MT
  • TTF Gas NOV 24 down 2.2% at 38.18 EUR/MWh
  • EU ETS Dec24 has extended losses throughout the morning, mirroring the pullback in natural gas markets.
  • The latest EU ETS CAP3 auction cleared lower at €63.19/ton CO2e, down from the previous auction of €65.69/ton CO2e and the lowest since 17 September, with the cover ratio falling to the lowest since 9 July.
  • EEX will conduct Europe-wide primary market emissions auctions until 31 December 2026, following an extension of its original five-year contract.
  • EdF will extend the outage at its 905MW Chinon 3 to 4 Oct from 3 Oct, latest remit data show.
  • Engie has extended the maintenance at the 1.03GW Doel 4 nuclear reactor in Belgium, after finding issues with the rector’s concrete dome.
  • RWE has started construction of four new solar farms in the UK - a combined capacity of 200MW – with commissioning anticipated in 2026.
  • Spanish hydropower reserves last week – calendar week 39 – edged down to 47.8% of capacity, down from 47.9% of capacity the week prior.
  • Spain has added 725MW of new solar PV capacity in September with total capacity reaching 28.61GW as of 1 October. 
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CWE front-month power futures are pulling back today with losses in the wider European energy complex. Nordic front-month futures are also trading lower with an upward revision in Sweden’s and Norway’s hydrobalances and additional downside from Germany and EU gas. 

  • Nordic Base Power NOV 24 down 3.1% at 44 EUR/MWh
  • France Base Power NOV 24 down 4.3% at 76.05 EUR/MWh
  • Germany Base Power NOV 24 down 3.5% at 86.5 EUR/MWh
  • EUA DEC 24 down 3% at 63.61 EUR/MT
  • TTF Gas NOV 24 down 2.2% at 38.18 EUR/MWh
  • EU ETS Dec24 has extended losses throughout the morning, mirroring the pullback in natural gas markets.
  • The latest EU ETS CAP3 auction cleared lower at €63.19/ton CO2e, down from the previous auction of €65.69/ton CO2e and the lowest since 17 September, with the cover ratio falling to the lowest since 9 July.
  • EEX will conduct Europe-wide primary market emissions auctions until 31 December 2026, following an extension of its original five-year contract.
  • EdF will extend the outage at its 905MW Chinon 3 to 4 Oct from 3 Oct, latest remit data show.
  • Engie has extended the maintenance at the 1.03GW Doel 4 nuclear reactor in Belgium, after finding issues with the rector’s concrete dome.
  • RWE has started construction of four new solar farms in the UK - a combined capacity of 200MW – with commissioning anticipated in 2026.
  • Spanish hydropower reserves last week – calendar week 39 – edged down to 47.8% of capacity, down from 47.9% of capacity the week prior.
  • Spain has added 725MW of new solar PV capacity in September with total capacity reaching 28.61GW as of 1 October.