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

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See below the weekly news highlights of the MNI power Service for the week 6-10 January. 

  • Poland is accelerating its push to build its first 3.75GW nuclear power plant, securing government approval for a PLN60.2bn (€14.4bn) funding package, with completion scheduled for 2036.
  • Romania’s planned coal-to-gas plant conversion project received the construction permit, with the 1.7GW Mintia gas plant anticipated to be operational in 36 months.
  • The International Atomic Energy Agency (IAEA) said on 5 January that most of the nuclear reactors under Ukrainian control reduced generation levels after the massive attack Sunday morning by Russia against the Ukrainian energy infrastructure.
  • EMISSIONS – German GHG emissions declined by 18mn tons, or 3%, on the year to a total of 656mn tons CO2e in 2024 – reaching a new record low, according to a study.
  • Germany’s emissions trading revenues reached a record €18.5bn in 2024, slightly up from €18.4bn in 2023, driven by growth in national CO2 pricing and expanded coverage.
  • Speculator positioning in EU ETS futures on the ICE exchange turned significantly more bullish on the week with net long positionings at the highest since 10 March 2023, the latest COT data as of 3 January showed.
  • Europe must increase annual average investments in residential heat pumps by 1.6 times to $34bn until 2030 in order to tackle emissions from the buildings sector according to BNEF.
  • The Danish Energy Agency has launched its fourth tender round for CO2 storage exploration permits, with application due by 6 March 2025.
  • NATGAS –  The EU Commission and Slovakia’s Robert Fico have issued a joint statement on the natgas situation in Central Europe. Commitment from the EU Commission towards a resolution appears limited at present. They have agreed to continue talking in working groups and see "how the EU can help."
  • As EU storage draws surged to their second highest level in the last 10 years, stocks are now 15 bcm below 2024 levels, pointing to a tighter summer market, the IEA’s Greg Molnar said.
  • German natural gas consumption in December was 6.2% below the 2018-2021 average at 3,580GWh/d, Bnetza data showed. Industrial demand was 1.9% below normal while demand from households and small businesses was 10.4% below.
  • Two US LNG cargoes on tankers Bushu Maru and Grace Dahlia have diverted from a course towards Asia and are now heading to Europe, with European demand supported by the reduction in Russian gas pipeline flows and reduced Asian demand due to higher spot prices. 
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See below the weekly news highlights of the MNI power Service for the week 6-10 January. 

  • Poland is accelerating its push to build its first 3.75GW nuclear power plant, securing government approval for a PLN60.2bn (€14.4bn) funding package, with completion scheduled for 2036.
  • Romania’s planned coal-to-gas plant conversion project received the construction permit, with the 1.7GW Mintia gas plant anticipated to be operational in 36 months.
  • The International Atomic Energy Agency (IAEA) said on 5 January that most of the nuclear reactors under Ukrainian control reduced generation levels after the massive attack Sunday morning by Russia against the Ukrainian energy infrastructure.
  • EMISSIONS – German GHG emissions declined by 18mn tons, or 3%, on the year to a total of 656mn tons CO2e in 2024 – reaching a new record low, according to a study.
  • Germany’s emissions trading revenues reached a record €18.5bn in 2024, slightly up from €18.4bn in 2023, driven by growth in national CO2 pricing and expanded coverage.
  • Speculator positioning in EU ETS futures on the ICE exchange turned significantly more bullish on the week with net long positionings at the highest since 10 March 2023, the latest COT data as of 3 January showed.
  • Europe must increase annual average investments in residential heat pumps by 1.6 times to $34bn until 2030 in order to tackle emissions from the buildings sector according to BNEF.
  • The Danish Energy Agency has launched its fourth tender round for CO2 storage exploration permits, with application due by 6 March 2025.
  • NATGAS –  The EU Commission and Slovakia’s Robert Fico have issued a joint statement on the natgas situation in Central Europe. Commitment from the EU Commission towards a resolution appears limited at present. They have agreed to continue talking in working groups and see "how the EU can help."
  • As EU storage draws surged to their second highest level in the last 10 years, stocks are now 15 bcm below 2024 levels, pointing to a tighter summer market, the IEA’s Greg Molnar said.
  • German natural gas consumption in December was 6.2% below the 2018-2021 average at 3,580GWh/d, Bnetza data showed. Industrial demand was 1.9% below normal while demand from households and small businesses was 10.4% below.
  • Two US LNG cargoes on tankers Bushu Maru and Grace Dahlia have diverted from a course towards Asia and are now heading to Europe, with European demand supported by the reduction in Russian gas pipeline flows and reduced Asian demand due to higher spot prices.