POWER: Swiss Hydro Power Stocks At Parity with Long-Term Avg

Swiss hydropower reserves quickened their increase to end their 8-week slowing trend and end at 84.8% of capacity in week, however, stocks narrowed their surplus to 1997 avg the lowest since 24 June, BFE data showed.

• Stocks rose by 1.2 points compared to a 0.5-point gain the week before. Faster increases in stocks this week were driven by higher nuclear while demand remained unchanged on the week, however, below-average precipitation over the remainder of this week could weigh on stocks.
• But the surplus to the five-year average narrowed to 1.2 points from 2 points the week before and 3.9 points in week 32.
• Stocks also narrowed the surplus to the long-term average – since 1997 – to be at parity compared to a 0.6-point surplus.
• Swiss power demand last week was unchanged on the week at 6.56GW,
• And Nuclear generation last week averaged 2.47GW rising from 2.02GW amid the end of works at Axpo’s nuclear power plants.
• Swiss hydropower generation for pump-storage sources last week averaged 869MW compared to 1.12GW the week before, with run of the river output at 242MW from 364MW in week 33.
• Looking ahead, forecasts for this week suggested precipitation in the hydro-intensive region of Sion to be below the seasonal average, weighing on inflows into reserves.
• Additionally, the Swiss hydro balance has been revised down 27 August September but is forecasted higher over 3-10 September- ending at +245GWh on 11 September.