VIDEO: European power outlook for Q3 ’22

LONDON (ICIS)— The ICIS Power team presents the key drivers for Q3 ‘22 in the main electricity markets in Europe.

(All graphs in the video are linked below)

• ICIS TTF front month likely to remain at new highs during Q3 ’22

Germany

• German 2022 power load falls to well below the norm
• German gas storages filling up fast

UK

• UK becomes net power exporter from May
• NBP expected to retain a significant discount to TTF through the third quarter

France

• Projected nuclear availability in Q3 will gradually rise
• French run-of-river hydropower generation stays below 2017-2021 average

Italy

• Italian reservoir stocks remain below norms
• Italian gas plants poised for high margins in Q3 ’22

CEE/SEE

• Romanian and Serbian hydro stocks below 2021 levels
• Hungarian Q3 ’22 premium over Germany starts to widen

Iberia

• Gas-for-power up year on year as hydro, wind outputs drop
• Iberian spot power prices remain high year on year