Swiss Hydro Stocks Accelerate Gains

Switzerland’s hydropower reserves last week increased weekly gains for another week by 6.3 percentage points, up from 4.4 points the week prior, to 35.6% of capacity, BFE data showed.

• Reserves narrowed the discount to the five-year average to 4.2 points last week, compared with 5.5 points the week prior.
• The deficit to the long-term average – since 1997 – also narrowed to 3.6 points, compared with 4.3 points the week before.
• Swiss power demand averaged 5.8GW last week, down from 5.89GW the week prior.
• Hydropower generation in Switzerland last week increased by 350MW to 3.02GW.
• Nuclear generation last week also rebounded to 1.56GW, compared with 655MW the week before – the lowest level so far this year due to seasonal maintenance.
• Nuclear generation is scheduled to further recover this month. Planned works at Alpiq’s 1.02GW Goesgen nuclear facility are scheduled to last until 22 June. Planned maintenance at Axpo’s 365MW Beznau 1 reactor has been extended by four days until 19 June.
• Forecasts suggested some precipitation in Sion – in the hydro-intensive canton of Valais – which is likely to support inflows into reserves.
• Snowpack at the L'Ecreuleuse measuring station in canton Valais – where most Swiss hydropower reserves are stored – was at 231cm on 11 June, down from 280cm on 5 June.
• The Swiss July power base-load contract closed yesterday at €61.77/MWh.