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POWER: Weekly News Highlights MNI Power Service Part 2/2 Week 51

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See below the weekly news highlights of the MNI power Service for the week 16-20 December.

  • Finland plans to launch its first tenders for offshore wind power in its exclusive economic zone by late 2025 as it will implement its new Act on Offshore Wind on 1 January 2025, the Finnish government said.
  • Poland’s 2029 capacity market auction concluded with just over 8GW of obligations secured at a closing price of PLN264.90/kW/year, with firms Enea, Orlen, European Energy, Slovenske elektrarne and Fortum taking park, according to preliminary results by TSO PSE.
  • Poland’s Tauron is planning to phase out its coal-fired power generation, excluding the 910MW Jaworzno plant, by 2030, it said in its new strategy.
  • Korea Hydro & Nuclear Power has finalised a contract to upgrade Romania's 700MW Cernavoda nuclear unit 1 to extend the reactor lifespan by 30 years, with works to begin in February 2025, KHNP said.
  • Romania has allocated 1.5GW of renewable energy projects via a tender through an EU-funded CfD scheme, the energy ministry said, cited by Reuters.
  •  
  • EMISSIONS –  The European Commission has disbursed an additional €2.7bn to support 39 investment projects in eight member states from emissions trading revenues via the Modernisation Fund.
  • The EU’s planned 2040 climate target that is expected to be presented early next year has hit roadblocks this week with member states having different views of the role of nuclear energy in the target according to Reuters.
  • Speculator positioning in EU ETS futures on the ICE exchange turned more bearish after seven consecutive weeks of more bullish positionings, the latest COT data as of 13 December showed.
  • European car makers are falling behind on mandatory emissions rules due to lower EV sales that could lead to fines for automakers next year according to BNEF.
  • Oslo District Court has ruled in favour of Norwegian Air Shuttle, declaring the airline's method of fulfilling its 2020 EU ETS obligations is lawful and overturning a NOK400mn (€33.7mn) penalty, according to the airline.
  • The Norwegian government has offered three companies exploration licenses for CO2 storage in two areas in the Nord Sea, after reviewing six companies, the Norwegian Offshore Directorate said.
  • NATGAS –  TTF extends gains before pulling back again on Thursday afternoon on a headline that there won’t be a new Russia gas transit contract with Ukraine, according to President Putin, cited by Bloomberg.
  • Speaking at a presser following his meetings with EU leaders at the European Council summit in Brussels, Ukrainian President Volodymyr Zelenskyy says that Ukraine 'will not continue Russian gas transit.' Says that if the transit does not involve Russian gas 'we can thing about it'.
  • The U.S. has granted an exemption for Gazprombank sanctions on gas payments Hungarian Foreign Minister Peter Szijjarto said on Facebook on Thursday.
  • European gas storage was down to 77.09% full on Dec. 17, according to GIE, compared to the previous five-year average of 80.15% as withdrawals have reduced this week back to just above normal levels.  Withdrawal rates reached the highest since January at 8,266GWh/d on Dec. 12 before falling back close to normal since Dec. 15.
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See below the weekly news highlights of the MNI power Service for the week 16-20 December.

  • Finland plans to launch its first tenders for offshore wind power in its exclusive economic zone by late 2025 as it will implement its new Act on Offshore Wind on 1 January 2025, the Finnish government said.
  • Poland’s 2029 capacity market auction concluded with just over 8GW of obligations secured at a closing price of PLN264.90/kW/year, with firms Enea, Orlen, European Energy, Slovenske elektrarne and Fortum taking park, according to preliminary results by TSO PSE.
  • Poland’s Tauron is planning to phase out its coal-fired power generation, excluding the 910MW Jaworzno plant, by 2030, it said in its new strategy.
  • Korea Hydro & Nuclear Power has finalised a contract to upgrade Romania's 700MW Cernavoda nuclear unit 1 to extend the reactor lifespan by 30 years, with works to begin in February 2025, KHNP said.
  • Romania has allocated 1.5GW of renewable energy projects via a tender through an EU-funded CfD scheme, the energy ministry said, cited by Reuters.
  •  
  • EMISSIONS –  The European Commission has disbursed an additional €2.7bn to support 39 investment projects in eight member states from emissions trading revenues via the Modernisation Fund.
  • The EU’s planned 2040 climate target that is expected to be presented early next year has hit roadblocks this week with member states having different views of the role of nuclear energy in the target according to Reuters.
  • Speculator positioning in EU ETS futures on the ICE exchange turned more bearish after seven consecutive weeks of more bullish positionings, the latest COT data as of 13 December showed.
  • European car makers are falling behind on mandatory emissions rules due to lower EV sales that could lead to fines for automakers next year according to BNEF.
  • Oslo District Court has ruled in favour of Norwegian Air Shuttle, declaring the airline's method of fulfilling its 2020 EU ETS obligations is lawful and overturning a NOK400mn (€33.7mn) penalty, according to the airline.
  • The Norwegian government has offered three companies exploration licenses for CO2 storage in two areas in the Nord Sea, after reviewing six companies, the Norwegian Offshore Directorate said.
  • NATGAS –  TTF extends gains before pulling back again on Thursday afternoon on a headline that there won’t be a new Russia gas transit contract with Ukraine, according to President Putin, cited by Bloomberg.
  • Speaking at a presser following his meetings with EU leaders at the European Council summit in Brussels, Ukrainian President Volodymyr Zelenskyy says that Ukraine 'will not continue Russian gas transit.' Says that if the transit does not involve Russian gas 'we can thing about it'.
  • The U.S. has granted an exemption for Gazprombank sanctions on gas payments Hungarian Foreign Minister Peter Szijjarto said on Facebook on Thursday.
  • European gas storage was down to 77.09% full on Dec. 17, according to GIE, compared to the previous five-year average of 80.15% as withdrawals have reduced this week back to just above normal levels.  Withdrawal rates reached the highest since January at 8,266GWh/d on Dec. 12 before falling back close to normal since Dec. 15.