Swiss Hydro Stocks Accelerate Weekly Increase

Switzerland’s hydropower reserves last week increased by 4.3 percentage points to 29.3%, accelerating gains from 1.2 points the week prior, as precipitation and snowmelt supported inflows into reserves last week, BFE data showed.

• Hydro reserves narrowed the deficit to the five-year average to 5.5 points, from 5 points the week prior.
• Stocks, however, widened the deficit to the long-term average – since 1997 – to 4.3 points, compared with 3.3 points the week before.
• Swiss power demand averaged 6.42GW last week, slightly higher from 6.4GW the week prior.
• Hydropower generation in Switzerland last week edged down by 122MW to 2.67GW.
• Nuclear generation also declined by 273MW to 655MW – the lowest weekly output so far this year.
• Nuclear generation is likely recovering this week after the Axpo’s 1.233GW Leibstadt reactor on restarted on 31 May.
• 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 280cm on 5 June, down from 310cm on 29 May.
• The Swiss July power base-load contract closed yesterday at €64.52/MWh.