Daily Energy Market Report Friday 27th July 2018

 

NBP prompt opened lower this morning off the back of a comfortable system and an increase in greater wind generation.

The temperature forecast is a warm one with cooler weather coming in over the weekend but then picking up again next week.

For the week after next, there are signs of cooler and windier weather.

Solar power generation is going to drop away over the weekend as a cloud cover and thunderstorms are expected in the UK.

The system is around 11mcm long this afternoon with demand pegged at 170mcm, 2 mcm above seasonal normal.

On the supply side, Langeled has increased by around 5mcm day on day to 51.1mcm.

UKCS is nominating at 73.7mcm.

LNG send out is nominating lower than yesterday at 6.6mcm.

On the demand side, LDZ is at 52.8mcm, gas for power demand has decreased by around 6mcm to 47.9mcm.

Exports the continent along the interconnector have risen to around 50mcm.

Looking at the wider energy complex, oil is relatively flat with decreases in inventories and the shutdown of a key shipping route in the Red Sea by Saudi Arabia supporting the upside.

Coal has seen losses over the last couple of days with cooler and windier weather easing demand on the Continent.

Cooler weather is lessening the risk of water levels dropping further, which has a direct impact on the cooling of nuclear plants and the transportation of coal via waterways.

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