POWER: Italy November Power to Open Lower
Italy November power is expected to trade down, once liquid, with losses in EU gas prices.
- Italy Base Power NOV 25 closed up 0.4% at 108.92 EUR/MWh on 2 Oct
- Italy Power Cal 26 closed up 0.5% at 104.28 EUR/MWh on 2 Oct
- TTF Gas NOV 25 down 1.3% at 31.05 EUR/MWh
- EUA DEC 25 up 0.6% at 77.87 EUR/MT
- TTF front month has been bouncing within a €1/MWh range since falling to a low of €30.735/MWh on Oct. 1, with returning pipeline supplies set against limited storage injections.
- The latest two-week ECMWF weather forecast for Rome suggests mean temperatures will remain below normal throughout the forecast period.
- Mean temperatures in Rome are forecast at 14.9C on Saturday and at 18.3C on Sunday, from 14.9C on Friday and below the seasonal normal.
- The PUN index declined to €96.11/MWh for Friday’s delivery, down from €104.40/MWh the day before.
- Wind output in Italy is forecast at 2.61GW during base load on Saturday and at 4.37GW on Sunday, from 6.07GW on Friday. Solar PV output is forecast at 8.99GW during peak load on Saturday and at 6.39GW on Sunday, from 8.83GW on Friday according to SpotRenewables.
- Residual load in Italy is forecast at 19.87GWh/h on Saturday and at 14.16GWh/h on Sunday, from 20.87GWh/h on Friday, Reuters data showed.
- Power demand in Italy is forecast at 27.41GWh/h on Saturday and at 23.62GWh/h on Sunday, from 31.79GWh/h on Friday, Reuters data showed.
- Italian residential/commercial gas consumption is forecast at 45.8mcm/d on Saturday and at 41.9mcm/d on Sunday, from 67.4mcm/d on Friday, Bloomberg data showed.
- Italy’s hydro balance forecast has been revised slightly revised up to 1.14TWh on 17 October, from 1.08TWh previously, Bloomberg data showed.
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