POWER
Poland’s Dec power contract has fallen from its fresh all-time high in the previous session to track losses in emissions and coal today, although, mean temps in Warsaw are now expected to flip below the norm 5 Dec into negative territory – likely support heating demand. Day ahead prices continued to climb from the previous day, with planned maintenance at 834MW Unit 8 Jaworzno 2 coal unit due to begin on 28 Nov, which could support cost and offset a 3GW climb of wind generation on the day.
- Poland Dec24 baseload power settled at PLN462.34/MWh compared to its settled price of PLN469.90/MWh on 25 Nov, according to data on Polish power exchange TGE. Despite this, the contract has still been on a general upward trend since September.
- EUA DEC 24 down 1.2% at 69.04 EUR/MT
- Rotterdam Coal DEC 24 down 1.6% at 120.25 USD/MT at 13:35 BST
- The 834MW unit B7 at the Jaworzno 2 coal unit will have planned maintenance over 28 Nov-2 Dec due to a boiler leakage.
- And unplanned maintenance at three 228MW coal units at the 1.8GW Kozienice 1 is due to continue until 30 Nov.
- The Dec contract traded 42 times in 53 lots from 42 lots exchanged in the previous session.
- Dec opened at PLN467/MWh – the high for the day – before dropping to PLN462/MWh – the low for the day – and slightly moving up to PLN463/MWh towards the end of the session.
- Closer in, the day-ahead rose to PLN707.18/MWh for Wednesday delivery from PLN645.50/MWh for Tuesday amid wind output forecasts to be at 1.82GW tomorrow compared to 3.12GW today.
- Looking slightly ahead, wind is expected to rise to 4.81GW on 28 Nov (Thurs) – which may weigh on delivery prices. Wind will then be at 0.759-3.38GW over 29-30 Nov.
- Average temperatures in Warsaw are set to be mostly above the seasonal norm over 27 Nov- 4 Dec but will drop the next day to be between minus 1.7 and minus 2.8C over 5-7 Dec.
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