Swiss Hydro Stocks Widen Deficit to 5-Year Average to Annual Year

Switzerland’s hydropower reserves last week increased by 1.2 percentage points last week to 24.9%, widening the deficit to the five-year average to the highest so far this year, BFE data showed.

• Hydro reserves widened the deficit to the five-year average to 6 percentage points, compared with 3.9 points the week earlier – and the highest so far this year.
• Stocks also switched to a deficit to the long-term average – since 1997 – of 3.3 points last week, compared with a surplus of 0.1 points the week prior.
• Swiss power demand last week averaged 6.4GW, down from 6.55GW the week prior.
• Hydropower generation in Switzerland was broadly stable at 2.79GW last week, compared with 2.83GW the week before.
• Nuclear generation in Switzerland fell to the lowest weekly average so far this year of 927MW, down from 1.31GW the week prior, as several Swiss nuclear facilities are currently undergoing seasonal maintenance.
• However, nuclear unavailability will improve from later this week with the restart of Axpo’s 1.233GW Leibstadt reactor on 31 May.
• Planned works at Alpiq’s 1.02GW Goesgen nuclear facility have started on 25 May. Maintenance is expected to end on 22 June.
• Works at Beznau 2 concluded last weekend. Planned maintenance at Axpo’s 365MW Beznau 1 reactor are scheduled until 15 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 310cm on 29 May, down from 334cm on 22 May.
• The Swiss June power base-load contract closed yesterday at €63.19/MWh, the lowest since 17 May.