EU Power

November 9, 2017

The Research Team offers its view on the EU power market.

 

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6 November 2017 

  • Total power production is forecasted to slightly decline during the next 5-7 days (although it may later climb once again).
  • Both German and French predicted outages are seen to substantially decrease (week 45 & 46).
  • Renewables are expected to be weak during the next 10 days (excluding a windy spell which is forecasted to affect Europe towards the end of the week).
  • High pressure areas forming over the North Atlantic will push cold air advections towards Europe (next 7-10 days).
  • Temperatures are expected to be well below the norm.
  • Winds will be intermittent, but overall weak over continental Europe – this will push the capacity utilization (conventional sources) higher.
  • The macroeconomic conditions are supportive of a positive price development.
  • The PMI is still above 60 (October data), but slightly below the value observed in September.
  • The latest figures on the industrial activity show an increase in cement production, but a decline (month-on-month) for chemical.

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