POWER: Extended Outages Hit Greek Power Fleet, Peaking in 2H26
Several Greek power units face extended maintenance periods in 2026, with the largest outages concentrated in 2H26, with the 810MW Megalopoli 5, 400MW Elepidison Thess, and 405MW Megalopoli GT unit 2 offline for 90–98 days in 2H, data from IPTO show.
- The 810MW Megalopoli 5 will be disconnected over 7 September-13 December 2026, with works at the 400MW Elepidison Thess occurring over 16 September-14 December and 405MW Megalopoli GT unit 2 offline over 7 September-13 December.
- Additionally, in 1H 2026, total offline capacity is significantly lower, with major outages including 377.6MW Lavrio 5 offline for 100 days mostly in 1H and 410MW ElpedisonThis 6 disconnected from 29 Days.
- The 377.6MW Lavrio 5 will be disconnected over 28 February-7 June 2026, with the 410MW ElpedisonThis 6 offline over 3-31 May 2026.
Overall, the first half of the year sees roughly 1.2GW offline, while the second half jumps to over 2GW due to the prolonged maintenance of multiple large units (see chart below).
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CHF: More FX Exchange traded Option
- CHFUSD (5th Dec) 130.5c, sold at 0.02 in ~1k.
The Underlying December contract trades at 124.23.
EQUITIES: UBS' CTA Exit Triggers Remain Some Distance Away Despite Pullback
UBS write “continuous positive price action in equities has been very profitable for CTAs in the last three months. Strong Q3 earnings are not derailing the trend, encouraging CTAs to stay put despite heavy positioning”.
- Based on their forecasting model they suggest that “only a 2std downturn scenario will spark some CTA selling, with 6,650 (S&P)/5,450 (SX5E)/9,250 (FTSE100)/46,700 (NIKKEI) acting as respective trigger points”.
- Those levels remain some distance away, despite the previously detailed pullback in equities (which has started to reverse). This suggests that CTA liquidation did not play a part in the equity weakness witnessed during Asia & early London trade.
CAD: FX Exchange traded Call seller
CADUSD (5th Dec) 72.00c, sold at 0.08 in ~1.9k.
