POWER: Nordic Sept Plunges on Interconnector Outage, Norway Rain

The Nordic September is pulling back today amid an upward revision in precipitation forecasts for Norway, and an unplanned outage at the Nordlink interconnector with Germany. 

• Norway’s hydrological balance has been revised higher until 25 August, after which it has been revised lower to end 5 September at +1.21TWh, down from 1.38TWh from yesterday’s forecast.
• The latest ECMWF 6-10 day weather forecasts suggested mean temperatures in the Nordics will remain above the seasonal normal throughout the forecast period. 
• Precipitation in the Nordics will remain above the seasonal normal until 25/26 August, after which it will fall back below normal. Precipitation in Norway has been revised higher at the start of the forecast period. 
• In Norway, wind output is forecast to decline on Friday to 1.06GW during base load, or a 20% load factor, down from 1.64GW forecast for Thursday. Wind output is further expected to increase 24-26 August. 
• Nordic nuclear reactors were operating at 84% of capacity as of Thursday, up from 81% of capacity on Wednesday. 
• The 1.44GW Nordlink interconnector with Germany has an unplanned outage today between 04:05CET and 22:59CET. 
  • Nordic Base Power SEP 24 down 7.1% at 25 EUR/MWh
  • Germany Base Power SEP 24 up 0.3% at 90.02 EUR/MWh
  • TTF Gas SEP 24 up 0.8% at 37.29 EUR/MWh