POWER: EU Mid-Day Power Summary: CWE Falls, Nordics Resist Trend Lower
CWE power futures are trading lower amid a selloff in EU gas markets. Nordic power futures are bucking the trend and trading higher, supported by drier weather forecasts and EU gas gains following the Nordic power futures market close on Tuesday. * Nordic Base Power OCT 26 up 2.3% at 101.5 EUR/MWh * Germany Base Power OCT 26 down 1.4% at 160.13 EUR/MWh * France Base Power OCT 26 down 1.7% at 145.19 EUR/MWh * EUA DEC 26 down 0.7% at 86.16 EUR/MT * TTF Gas OCT 26 down 1.2% at 72.43 EUR/MWh * TTF front month has fallen amid market optimism around US-Iran talks on the sidelines of this week's UN gathering, though remains within yesterday's range. * EUAs are edging down after earlier strength to be weighed down by a selloff in EU gas prices. UKAs have also erased gains to edge higher, amid EUA downside. EUAs-Dec26 and UKAs-Dec26 briefly rallied shortly after 9AM BST, with no clear driver identified so far. * Investment Funds net short positioning in ICE German power increased last week, according to the latest COT data as of 18 September. * German year-ahead fuel-switching economics have weakened slightly over the past week as TTF prices have fallen more than API2 coal, while EUAs have
CWE power futures are trading lower amid a selloff in EU gas markets. Nordic power futures are bucking the trend and trading higher, supported by drier weather forecasts and EU gas gains following the Nordic power futures market close on Tuesday. 43 EUR/MWh * TTF front month has fallen amid market optimism around US-Iran talks on the sidelines of this week's UN gathering, though remains within yesterday's range. * EUAs are edging down after earlier strength to be weighed down by a selloff in EU gas prices.
UKAs have also erased gains to edge higher, amid EUA downside. EUAs-Dec26 and UKAs-Dec26 briefly rallied shortly after 9AM BST, with no clear driver identified so far. * Investment Funds net short positioning in ICE German power increased last week, according to the latest COT data as of 18 September. * German year-ahead fuel-switching economics have weakened slightly over the past week as TTF prices have fallen more than API2 coal, while EUAs have risen.
* German thermal generation is running higher on the year in September, led by stronger coal and lignite output, amid higher net exports, slightly stronger demand and lower wind generation. ON, Octopus Energy and others have urged Bnetza to simplify planned rules for integrating EV batteries into power markets. * Gresham House Energy Storage Fund has 397MW of new battery projects under construction, with first energisations targeted from H2 2027. * Nadara has completed the 227MW Big Fish agrivoltaic project in Sicily, described as Italy's largest.
* Spain is considering capping gas used for power generation at EUR50/MWh for one year amid rising energy prices. * Spain has launched consultations on allocating up to 11GW of reserved grid-access capacity at just-transition nodes for renewable and storage projects. 2%. * Skoda JS has signed a contract with Rolls-Royce SMR, formalising its previously announced supplier role and making it the exclusive designer and supplier of drive systems across all Rolls-Royce SMR markets.
80bn) to transform the Siersza coal power plant into a modern energy and industrial complex by adding up to 800MW of new generation capacity.