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POWER: Weekly News Highlights MNI Power Service Part 1/2

POWER
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See below the weekly news highlights of the MNI power Service for the week 13-17 January.

  • POWER – Gas-fired power generation in Europe is expected to decline year on year in 2025, with German generation averaging 4.4GW and Italian gas power generation falling to 9.3GW according to S&P Commodity Insights.
  • European power demand – incl. the EU, Switzerland, the UK and Norway - is forecast to rise by 49TWh on the year in 2025, with 2025 demand expected to 4% below the 2017-2021 average according to ICIS.
  • The release of the EU-wide bidding zone review has been delayed until spring 2025, as ongoing work to finalise configurations for national bidding zones in Central Europe requires additional time to meet agreed methodological standards.
  • Investment Funds positioning in ICE German power futures increased their net short position to another fresh high since flipping from a net long position in the week of 29 Nov 2024, according to the latest COT data as of 10 Jan.
  • Germany issued a new record amount of onshore wind permits in 2024, totalling 2,405 plants with a combined capacity of 14.06GW, data from BWE showed.
  • French hydropower reserves in calendar week 2 slowed the weekly decline to end at 64.05% of capacity, compared with 64.3% the week before, narrowing the deficit to the five-year average.
  • France is far from ready to start building its planned six new nuclear reactors – the EPR2 programme - France’s Court of Auditors said.
  • UK’s NESO will halt accepting new power grid projects that plan to join the queue on 29 January as it plans to improve the system.
  • Costs to develop the UK’s planned 3.2GW Sizewell C nuclear power station are expected to reach close to £40bn, people close to the negotiations told the FT, compared with previous estimates of around £20bn.
  • Belgium’s 870MW Flemalle TH1 gas-fired power plant will undergo tests with injection into the Elia grid from May-October 2025, with a gradual ramp-up in capacity expected to reach its maximum by July.
  • Swiss hydropower reserves in calendar week 2 declined to 46.40% of capacity, down from 49.6% the week before, widening the deficits to the five-and ten-year average.
  • Spanish hydropower reserves in calendar week 2 increased to 52.6% of capacity, up from 51.7% of capacity.
  • Saipem has encountered delays in drilling for foundations for the 450MW Courseulles-sur-Mer offshore wind project in France, raising concerns that the commissioning, initially set for 2025, could be pushed back to 2026.

 

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See below the weekly news highlights of the MNI power Service for the week 13-17 January.

  • POWER – Gas-fired power generation in Europe is expected to decline year on year in 2025, with German generation averaging 4.4GW and Italian gas power generation falling to 9.3GW according to S&P Commodity Insights.
  • European power demand – incl. the EU, Switzerland, the UK and Norway - is forecast to rise by 49TWh on the year in 2025, with 2025 demand expected to 4% below the 2017-2021 average according to ICIS.
  • The release of the EU-wide bidding zone review has been delayed until spring 2025, as ongoing work to finalise configurations for national bidding zones in Central Europe requires additional time to meet agreed methodological standards.
  • Investment Funds positioning in ICE German power futures increased their net short position to another fresh high since flipping from a net long position in the week of 29 Nov 2024, according to the latest COT data as of 10 Jan.
  • Germany issued a new record amount of onshore wind permits in 2024, totalling 2,405 plants with a combined capacity of 14.06GW, data from BWE showed.
  • French hydropower reserves in calendar week 2 slowed the weekly decline to end at 64.05% of capacity, compared with 64.3% the week before, narrowing the deficit to the five-year average.
  • France is far from ready to start building its planned six new nuclear reactors – the EPR2 programme - France’s Court of Auditors said.
  • UK’s NESO will halt accepting new power grid projects that plan to join the queue on 29 January as it plans to improve the system.
  • Costs to develop the UK’s planned 3.2GW Sizewell C nuclear power station are expected to reach close to £40bn, people close to the negotiations told the FT, compared with previous estimates of around £20bn.
  • Belgium’s 870MW Flemalle TH1 gas-fired power plant will undergo tests with injection into the Elia grid from May-October 2025, with a gradual ramp-up in capacity expected to reach its maximum by July.
  • Swiss hydropower reserves in calendar week 2 declined to 46.40% of capacity, down from 49.6% the week before, widening the deficits to the five-and ten-year average.
  • Spanish hydropower reserves in calendar week 2 increased to 52.6% of capacity, up from 51.7% of capacity.
  • Saipem has encountered delays in drilling for foundations for the 450MW Courseulles-sur-Mer offshore wind project in France, raising concerns that the commissioning, initially set for 2025, could be pushed back to 2026.