Daily Energy Market Report Friday 21st September 2018
The UK opened with a long system this morning, 12.5mcm long with length being removed from the grid throughout the morning session.
By 10:30am, the system had halved in length to 6mcm.
Total demand for the UK on Friday stood at 150mcm, 28mcm below seasonal demand as wind generation again took some CCGT demand out of the picture.
Langeled flows into the UK have increased day on day, climbing up to 34mcm but length was generally made up thanks to a reduced demand.
Temperatures are set to fall over the coming days, which could increase gas burn at the front, but wind levels are expected to remain above seasonal average.
Coal prices have fallen this morning helping to ease prices across the curve as the commodity hit resistance at $100.
Carbon prices have touched down slightly helping to put further pressure on the far end of the curve.
Oil prices weakened overnight as Donald Trump took to twitter to tell OPEC to “Get prices down now” ahead of the OPEC meeting on Sunday.