Daily Energy Market Report Monday 17th Dec 18. The UK is above seasonal normal temperatures today, yet despite this, the total demand is just over 300mcm.
There is extremely low wind generation forecast in the UK until the New Year pushing up the gas burn for power.
Temperatures in the UK are set to remain above seasonal normal until January, with some days 6/7°C above the average.
Total demand for today sits at 302mcm, with CCGT at 62.7mcm and LDZ distribution at 222mcm.
There is strong flow from Norway and LNG supply remains good with three cargoes expected in the UK in the next week or so.
Brent Crude prices have touched downwards over the weekend amid concerns over the global economy.
There has been slower growth than anticipated this year leading to fears that Oil demand will reduce.
In the US, four rigs were shutdown, reducing the total rig count to 873, the lowest since mid-October.
Carbon prices remain bullish following the significant move upwards on Friday, with Dec-19 delivery EUA’s priced at €24.01with increases prices lifting costs for Gas and Coal generators.
Daily Energy Market Report Monday 17th Dec 18 brought to you by British Utilities