EU Power (Ita base load)

November 21, 2019

The Research Team reviews the EU Power market (Ita base load)

 

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21 November 2019

  • Generation from renewable sources will continue to show a surplus on the hydro and (to a lesser extent) wind side, for at least the next 5 days. The output will then gradually decrease after day 5. Interconnector flows are predicted to run at full speed thanks to the forecast temperature relaxation (next 10 days).
  • The weather pattern that supported abundant snow and rain will fade away as an area of high pressure will build from Spain and extend towards Italy. This will contribute in raising temperatures, sending the HDD predicted anomaly into negative territory. As a result, power demand is forecast to be below average for the next 10 days.
  • The macroeconomic conditions remain relatively weak and yet showing some signs of recovery. The PMI is not moving from 47/48, still below the 50 point threshold. The manufacturing activity has been oscillating considerably (month-on-month). The overall trend, however, remains negative. Looking at the specific segments, chemical production has been increasing for two consecutive months.

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