Daily Energy Market Report 14th December 18. The NBP has opened higher once again this morning off the back of continued strength in carbon and coal, despite a long system.
Coal has lifted in recent days off the back of increased utility buying and Australian rail strikes on key export routes.
Carbon has also risen with traders carrying over long positions into 2019.
The UK system is 16.8mcm long with increases in LNG send out and imports from the Netherlands accounting for the extra demand because of the colder weather.
The BBL is nominating at 32.4mcm, a 10.4mcm increase day on day.
LNG send out has increased by 6.6mcm to 70.6mcm.
We are also withdrawing from storage at a rate of 29.8mcm, with UKCS and Langeled both flowing around 70mcm.
On the demand side, LDZ has lifted 16.2mcm to 259.2mcm because of the colder weather.
Gas for power demand has also increased by 8.4mcm day-on-day to 66.4mcm, because of a drop in wind.
Temperature models have revised a touch milder overnight with below norm temperatures expected until the start of next week.
There are jitters in the market surrounding a potential stratosphere-warming event in the New Year, which could result in a cold spell in week 2 and 3; however, there is still low confidence in this outcome at present.
Daily Energy Market Report 14th December 18 brought to you by British Utilities