EU Power

May 15, 2018

The Research Team reviews the EU Power market

 

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15 May 2018

  • Total power production is predicted to spike this week, but will likely decline into week 20. This is partly due to a predicted drop in renewables (wind+solar), which could see a week-on-week decrease of -20-30%. Both German and French outages are forecast to decline (both week-on-week and year-on-year).
  • High pressure areas will mainly be observed over northern Europe and Scandinavia. Surface temperatures will increase therein, while remaining relatively high over parts of central Europe. The jet stream will be pushed further north (i.e. weak winds) and PV generation is also expected to decrease. This will lead to an increase in fossil fuels capacity utilization. Daily power demand is predicted to increase (week-on-week).
  • The macroeconomic view is, overall, supporting a bear trend. The PMI has been trending downwards over the past few months. On the other hand, chemical production has been increasing, while the opposite applies to cement production (month-on-month).

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