POWER: Estonia Recieves 17 Bids for Onshore Wind Areas
Feb-13 11:22
Estonia received 17 bids for onshore wind areas, with state land leased for up to 40 years and the development procedures to be concluded in 1Q25, the energy ministry said.
- The exact locations, turbine numbers, and arrangements will be decided during local government planning and permitting procedures.
- Construction can only begin once the planning procedure is completed and permits are issued, which should take three years, according to the government.
- Developers must complete the planning process and obtain a building permit within this timeframe.
- If a permit is not obtained within three years, superficies agreements will not be granted.
- A fee model will govern the wind farm development process, with fees based on land area and a percentage of the land’s tax value during the development period.
- And during the operation period, fees will also include a production component based on the electricity producer’s annual revenue.
- The successful bidders will gain the right to use state-owned land to build and operate wind farms for up to 40 years.
- However, there were no bids were submitted for four areas - Valga-Torva, Torva, Laane-Nigula, Turiv- towards the south and west of Estonia.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EQUITIES: European Equities are performing well
Jan-14 11:21
- The Estoxx futures is extending further gains, the US lags, and the Tech sector in Europe leads, in second place behind Auto&Parts.
- The Tech sector (SX8P) is up 1.3% and next resistance will be at last Friday's high of 838.50.
- As noted on the European Cash Govie open, and while this is not a Tech level, the Estoxx (VGH5) still needs a pullback up to 5040.00, now at 5025.00 to reverse Friday's post US Data sell off.
US TSY FUTURES: CFTC Shows H Funds & A Managers Cutting Exposure To Start ‘25
Jan-14 11:12
The latest CFTC CoT report showed hedge funds and asset managers lightening their overall net exposure in the week to January 7.
- Levered funds trimmed net shorts across the curve, unwinding over $16.5mn of DV01 equivalent exposure. They remain net short in all contracts.
- Asset managers trimmed their net long position. The exception to the broader theme came via FY and TY futures, where they added to existing longs. They remain net long in all contracts.
- Meanwhile, non-commercial participants added to (TY & WN) and trimmed net short exposure (TU, FV, UXY & US) at different points on the curve.
Source: MNI - Market News/CFTC/Bloomberg
OUTLOOK: Price Signal Summary - USDJPY Trend Needle Points North
Jan-14 11:10
- In FX, the trend condition in EURUSD remains bearish and recent short-term gains have proved to be a correction. Friday’s move lower resulted in a print below 1.0226, the Jan 2 low. The break of 1.0226 confirms a resumption of the downtrend. Sights are on 1.0138 next, a 1.764 projection of the Sep 25 - Oct 23 - Nov 5 price swing. Resistance to watch is 1.0458, Dec 30 high. Resistance at the 20-day EMA, is at 1.0361.
- The trend condition in GBPUSD remains bearish and the pair traded to a fresh trend low on Monday. Last week’s move down confirmed a resumption of the downtrend. Note too that moving average studies are in a bear-mode position highlighting a dominant bear trend. Sights are on 1.2087 next, a 0.764 projection of the Sep 26 - Nov 22 - Dec 6 price swing. Initial firm resistance is at 1.2367, the Jan 9 high.
- The trend condition in USDJPY is unchanged, it remains bullish and the pair is holding on to the bulk of its recent gains. Last week’s fresh cycle high, reinforces the bullish theme. The recent breach of 156.75, the Nov 15 high, confirmed a resumption of the uptrend and opens 159.45, the Jul 12 high. Initial firm support is 156.78, the 20-day EMA.
