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POWER: Mid-Day Summary: CWE Gives Up Losses on Gas Rebound

POWER
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CWE front-month power futures reversed some of the earlier losses with a rebound in natural gas prices with ongoing supply risks due to Middle Eastern tensions and forecasts for cooler weather. Nordic front-month power is holding onto losses. 

  • Nordic Base Power NOV 24 down 1.7% at 43.75 EUR/MWh
  • France Base Power NOV 24 down 0.1% at 73.86 EUR/MWh
  • Germany Base Power NOV 24 down 0.4% at 85.38 EUR/MWh
  • EUA DEC 24 down 0.2% at 62.47 EUR/MT
  • TTF Gas NOV 24 up 0.6% at 38.85 EUR/MWh
  • TTF front month erased earlier losses to edge higher on the day with ongoing Middle Eastern tensions and cooler weather from mid-October.
  • EU ETS Dec24 is struggling to find a clear direction today a rebound in natural gas prices
  • The latest EU ETS CAP3 auction cleared lower at €62.02/ton CO2e, compared with €63.19/ton CO2e in the previous auction and the lowest for any EU EUA auction since 9 April.
  • Edf will halt the 1.49GW Civaux 1 over 3-4 Oct in an unplanned outage.
  • Italian hydropower reserves last week – calendar week 39 – increased by 0.09TWh to 3.20TWh, flipping to a surplus to the five-year average.
  • SSE has delayed the completion of the 1.2GW Dogger Bank A offshore wind project in the UK to 2H 2025, from 1H 2025 previously scheduled.
  • The 1.6GW Ol3 nuclear power plant is now anticipated to be running at 1.29GW over 3 Oct 19:00-21:00 CET and then increase to 1.42GW over 21:00 CET 3 Oct to 00:00 CET on 4 Oct.
  • Poland may decommission some coal-fired power plant earlier than expected amid higher renewable capacity, ending of subsidies and competition from gas-fired plants, Enea head Grzegorz Kinelski said.
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CWE front-month power futures reversed some of the earlier losses with a rebound in natural gas prices with ongoing supply risks due to Middle Eastern tensions and forecasts for cooler weather. Nordic front-month power is holding onto losses. 

  • Nordic Base Power NOV 24 down 1.7% at 43.75 EUR/MWh
  • France Base Power NOV 24 down 0.1% at 73.86 EUR/MWh
  • Germany Base Power NOV 24 down 0.4% at 85.38 EUR/MWh
  • EUA DEC 24 down 0.2% at 62.47 EUR/MT
  • TTF Gas NOV 24 up 0.6% at 38.85 EUR/MWh
  • TTF front month erased earlier losses to edge higher on the day with ongoing Middle Eastern tensions and cooler weather from mid-October.
  • EU ETS Dec24 is struggling to find a clear direction today a rebound in natural gas prices
  • The latest EU ETS CAP3 auction cleared lower at €62.02/ton CO2e, compared with €63.19/ton CO2e in the previous auction and the lowest for any EU EUA auction since 9 April.
  • Edf will halt the 1.49GW Civaux 1 over 3-4 Oct in an unplanned outage.
  • Italian hydropower reserves last week – calendar week 39 – increased by 0.09TWh to 3.20TWh, flipping to a surplus to the five-year average.
  • SSE has delayed the completion of the 1.2GW Dogger Bank A offshore wind project in the UK to 2H 2025, from 1H 2025 previously scheduled.
  • The 1.6GW Ol3 nuclear power plant is now anticipated to be running at 1.29GW over 3 Oct 19:00-21:00 CET and then increase to 1.42GW over 21:00 CET 3 Oct to 00:00 CET on 4 Oct.
  • Poland may decommission some coal-fired power plant earlier than expected amid higher renewable capacity, ending of subsidies and competition from gas-fired plants, Enea head Grzegorz Kinelski said.