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Nordic hydropower reserves gained at a much faster pace last week (week 37), with stocks at 81.9% of capacity, or 104.02TWh amid a sharp on-week rise in precipitation, with reserves widening their on year surplus.
Stocks increased by 1.6 percentage points compared to a 0.2-point gain the week prior and a 1.7-point rise in week 35.
Precipitation in the Nordic region over 9-15 Sept (week 37) totalled 45.8mm compared to 12.74mm the week prior, supporting stocks.
Reservoir levels were at a 3.6-point surplus on the year after having remained 2.3 points above for the past two weeks.
The deficit to the 19-year average narrowed to 1.4 points, after widening to 2 points from 1.6 points in week 36.
Swedish reserves moved upward, after having ended their 19-week upward trend in week 36, to be at 79.6% of capacity, while Norwegian reserves climbed to 84.1% from 82.1% of capacity.
And Finnish hydro stocks continued their fall, edging down to 62.4% of capacity from 62.8% the week prior and remained sharply down on the year.
Looking ahead, the latest ECMWF suggests Norway’s hydrological balance has been slightly revised up, with the balance ending at +1.69TWh on 2 Oct compared to the previous forecasts of +1.52TWh
And Sweden is expected at +696GWh on 2 Oct compared to just +463GWh anticipated before.
Precipitation in the Nordics will be mostly above the 30-year norm of around 2.5mm over 26-27 Sept.
Sign up now for free trial access to this content.
Please enter your details below.
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.
Nordic hydropower reserves gained at a much faster pace last week (week 37), with stocks at 81.9% of capacity, or 104.02TWh amid a sharp on-week rise in precipitation, with reserves widening their on year surplus.
Stocks increased by 1.6 percentage points compared to a 0.2-point gain the week prior and a 1.7-point rise in week 35.
Precipitation in the Nordic region over 9-15 Sept (week 37) totalled 45.8mm compared to 12.74mm the week prior, supporting stocks.
Reservoir levels were at a 3.6-point surplus on the year after having remained 2.3 points above for the past two weeks.
The deficit to the 19-year average narrowed to 1.4 points, after widening to 2 points from 1.6 points in week 36.
Swedish reserves moved upward, after having ended their 19-week upward trend in week 36, to be at 79.6% of capacity, while Norwegian reserves climbed to 84.1% from 82.1% of capacity.
And Finnish hydro stocks continued their fall, edging down to 62.4% of capacity from 62.8% the week prior and remained sharply down on the year.
Looking ahead, the latest ECMWF suggests Norway’s hydrological balance has been slightly revised up, with the balance ending at +1.69TWh on 2 Oct compared to the previous forecasts of +1.52TWh
And Sweden is expected at +696GWh on 2 Oct compared to just +463GWh anticipated before.
Precipitation in the Nordics will be mostly above the 30-year norm of around 2.5mm over 26-27 Sept.
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