EU Power (Ita base load)

December 20, 2019

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

 

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20 December 2019

  • ​​​​​Renewables will be characterized by a tight trend on the hydro side. On the other hand, solar and wind will tend to increase. The latter is associated with the formation of a cut-off low which is predicted to target the central and eastern Mediterranean (i.e. winds to pick p over southern Italy). Interconnector flows are expected to see normal values thanks to the mild weather conditions affecting Europe over the next 5 to 10 days.
  • Temperatures will start well above the norm, sending demand levels well below the average of the period. The central / eastern Mediterranean is expected to become gradually colder. Italy should be affected as well, although the coldest signal is expected over the southern sectors and the Adriatic side.
  • The macroeconomic conditions continue to be on the weak side. The PMI remains consistently below the 50 base points and has not shown any clear trend over the past few months. Industrial Production has been trending downward (preliminary data in Q4) – this is also confirmed by selected sectors such as chemicals.

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