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

POWER
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CWE front-month futures are holding onto losses, tracking movements in the wider energy complex. German, French spot power prices diverged for Tuesday’s delivery. 

  • Nordic Base Power NOV 24 down 2% at 45.1 EUR/MWh
  • France Base Power NOV 24 down 3% at 71.9 EUR/MWh
  • Germany Base Power NOV 24 down 2.7% at 85.6 EUR/MWh
  • EUA DEC 24 down 2.3% at 60.63 EUR/MT
  • TTF Gas NOV 24 down 2.1% at 40.125 EUR/MWh
  • Front month TTF has been holding onto losses today amid improved supply from Norway and LNG imports.
  • EU ETS Dec24 has been holding at the lowest since 8 April, with bearish fundamentals, weak economic sentiment and a pullback in natural gas.
  • The latest EU ETS CAP3 auction cleared at the lowest since 8 April at €60.15/ton CO2e, compared with €62.02/ton CO2e in the previous auction.
  • The German and French day-ahead contracts diverged, with France falling amid strong nuclear availability and a rise in wind. Higher German power consumption, coupled with weaker wind on the day raised prices slightly.
  • Norway plans to introduce the EU's carbon tariff (CBAM) in the country, as advocated by industry, though the start date remains unclear.
  • Monthly volumes on EEX Group’s global power markets surged to a new record high of 1,148.4TWh in September, up by 52% on the year.
  • Unplanned maintenance at the 1GW ElecLink has been extended until 15 November, from 11 October previously scheduled.
  • The unplanned outage at the IFA2 interconnector has been extended by one day until 19 October.
  • Centrica is considering investing £1bn in the UK’s 1.6GW Hinkley Point C nuclear reactors.
  • TotalEnergies has signed an agreement with RWE to acquire a 50% stake in two offshore wind projects in Germany’s North Sea.
  • Vattenfall’s 1.17GW Forsmark unit 3 outage has been extended by around 2-months to 16 December from 28 October.
  • The Norwegian government on Monday proposed floating offshore wind subsidies of NOK 35bn for the country’s first commercial floating wind tender.
  • Polish energy regulator URE did not receive a single offer for its CHP September premium auction for individual cogeneration units.
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CWE front-month futures are holding onto losses, tracking movements in the wider energy complex. German, French spot power prices diverged for Tuesday’s delivery. 

  • Nordic Base Power NOV 24 down 2% at 45.1 EUR/MWh
  • France Base Power NOV 24 down 3% at 71.9 EUR/MWh
  • Germany Base Power NOV 24 down 2.7% at 85.6 EUR/MWh
  • EUA DEC 24 down 2.3% at 60.63 EUR/MT
  • TTF Gas NOV 24 down 2.1% at 40.125 EUR/MWh
  • Front month TTF has been holding onto losses today amid improved supply from Norway and LNG imports.
  • EU ETS Dec24 has been holding at the lowest since 8 April, with bearish fundamentals, weak economic sentiment and a pullback in natural gas.
  • The latest EU ETS CAP3 auction cleared at the lowest since 8 April at €60.15/ton CO2e, compared with €62.02/ton CO2e in the previous auction.
  • The German and French day-ahead contracts diverged, with France falling amid strong nuclear availability and a rise in wind. Higher German power consumption, coupled with weaker wind on the day raised prices slightly.
  • Norway plans to introduce the EU's carbon tariff (CBAM) in the country, as advocated by industry, though the start date remains unclear.
  • Monthly volumes on EEX Group’s global power markets surged to a new record high of 1,148.4TWh in September, up by 52% on the year.
  • Unplanned maintenance at the 1GW ElecLink has been extended until 15 November, from 11 October previously scheduled.
  • The unplanned outage at the IFA2 interconnector has been extended by one day until 19 October.
  • Centrica is considering investing £1bn in the UK’s 1.6GW Hinkley Point C nuclear reactors.
  • TotalEnergies has signed an agreement with RWE to acquire a 50% stake in two offshore wind projects in Germany’s North Sea.
  • Vattenfall’s 1.17GW Forsmark unit 3 outage has been extended by around 2-months to 16 December from 28 October.
  • The Norwegian government on Monday proposed floating offshore wind subsidies of NOK 35bn for the country’s first commercial floating wind tender.
  • Polish energy regulator URE did not receive a single offer for its CHP September premium auction for individual cogeneration units.