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POWER: Weekly News Highlights MNI Power Service Week 43

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See below the weekly news highlights of the MNI power Service for the week 21-25 October. 

  • POWER – EdF adjusted its 2024 corrosion plan, removing the 905MW Chinon 2 nuclear reactor from the corrosion risk list.
  • French hydropower reserves in calendar week 42 increased by 1.11 percentage points to 88.5% of capacity, marking another 2024 high, RTE data showed.
  • Engie has advanced its outright power production hedges for its planned hydropower and nuclear generation in Belgium and France in Q3, with prices falling compared with the second quarter.
  • Italy has awarded 433.5MW of capacity in its latest renewable tender round, compared with 296MW in the previous round, GSE said.
  • New investments in the UK’s energy infrastructure, including the 3.2GW Sizewell C nuclear power plant, need to be in the “right place” for Centrica to be involved, while the UK government needs to be involved in the nuclear expansion to lower the costs, Centrica CEO Chris O’Shea said.
  • The unplanned outage at the 1.12GW Forsmark unit 2 is anticipated to be fully operational just before 26 Oct, after going offline late on 21 Oct.
  • European PPA prices saw a significant drop in September, with Pexapark’s EURO Composite falling by 4.2% to €50.08/MWh. While volumes rebounded sharply from August — rising 125% month-on-month to around 1.03GW.
  • NATGAS - Investment fund net long positioning in ICE TTF futures is holding at relatively high levels as market focus remains on European winter risks from any unplanned supply disruptions ahead of the first colder weather spell of the season.
  • European gas output for power generation is expected to rise to 588TWh by 2027, compared with 530TWh expected for 2024, due to the ongoing coal and lignite phase out, higher demand and better gas margins from 2026 according to ICIS.
  • EMISSIONS - The EU Parliament’s environment committee plans to push for more major economies and polluters to contribute to the NCQG at the next COP29 summit next month, according to a draft resolution adopted by 54 votes to 23 on Monday.
  • Airlines under the EU ETS are ramping up pre-purchases of carbon allowances to guard against future price increases, as the free allocation of permits is set to end in 2026, according to BNEF.
  • The world is currently on track for a temperature rise of 3.1C before the end of the century due to a lack of ambition and climate action by countries over the past three years, the UN said. 
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See below the weekly news highlights of the MNI power Service for the week 21-25 October. 

  • POWER – EdF adjusted its 2024 corrosion plan, removing the 905MW Chinon 2 nuclear reactor from the corrosion risk list.
  • French hydropower reserves in calendar week 42 increased by 1.11 percentage points to 88.5% of capacity, marking another 2024 high, RTE data showed.
  • Engie has advanced its outright power production hedges for its planned hydropower and nuclear generation in Belgium and France in Q3, with prices falling compared with the second quarter.
  • Italy has awarded 433.5MW of capacity in its latest renewable tender round, compared with 296MW in the previous round, GSE said.
  • New investments in the UK’s energy infrastructure, including the 3.2GW Sizewell C nuclear power plant, need to be in the “right place” for Centrica to be involved, while the UK government needs to be involved in the nuclear expansion to lower the costs, Centrica CEO Chris O’Shea said.
  • The unplanned outage at the 1.12GW Forsmark unit 2 is anticipated to be fully operational just before 26 Oct, after going offline late on 21 Oct.
  • European PPA prices saw a significant drop in September, with Pexapark’s EURO Composite falling by 4.2% to €50.08/MWh. While volumes rebounded sharply from August — rising 125% month-on-month to around 1.03GW.
  • NATGAS - Investment fund net long positioning in ICE TTF futures is holding at relatively high levels as market focus remains on European winter risks from any unplanned supply disruptions ahead of the first colder weather spell of the season.
  • European gas output for power generation is expected to rise to 588TWh by 2027, compared with 530TWh expected for 2024, due to the ongoing coal and lignite phase out, higher demand and better gas margins from 2026 according to ICIS.
  • EMISSIONS - The EU Parliament’s environment committee plans to push for more major economies and polluters to contribute to the NCQG at the next COP29 summit next month, according to a draft resolution adopted by 54 votes to 23 on Monday.
  • Airlines under the EU ETS are ramping up pre-purchases of carbon allowances to guard against future price increases, as the free allocation of permits is set to end in 2026, according to BNEF.
  • The world is currently on track for a temperature rise of 3.1C before the end of the century due to a lack of ambition and climate action by countries over the past three years, the UN said.