Swiss Hydro Reserve Slow Increase for Seventh Consecutive Week

Swiss hydropower reserves slowed their increase for the seventh consecutive week, increasing by 0.9 percentage points last week to 83.1% of capacity as of 13 August and narrowed the surplus to the five-year average for the third consecutive week, BFE data showed.

• Stocks slowed the weekly increase from 1.2 points the week prior.
• The surplus to the five-year average narrowed to 3.9 points, down from 5.5 points a week earlier and the lowest surplus since it flipped from a deficit on the week of 24 June.
• Reserves also narrowed the surplus to the long-term average – since 1997 – to 2.6 points, from 4.7 points the week before.
• Swiss power demand last week decreased to 6.18GW, down from 6.26GW the week before.
• Average hydropower generation in Switzerland last week was at 1.32GW compared to 1.41GW averaged the week prior.
• Nuclear generation in Switzerland last week averaged around 2.56GW down from 2.87GW owing to Axpo’s 365MW Beznau 2 reactor undergoing planned maintenance until 19 August.
• Looking ahead, nuclear generation could be further impacted this week amid Axpo’s 365MW Beznau 1 nuclear reactor having an unplanned outage on Monday for several hours – which could weigh on hydro stocks.
• Forecasts for this week suggested little precipitation in Sion – in the hydro-intensive canton of Valais, with flows below the 30-year norm for most of the 6-10 day forecast- which could limit inflows into reserves.