Daily Energy Market Report Monday 3rd September 2018

Daily Energy Market Report Monday 3rd September 2018

 

The UK opened with a significantly short system on Monday morning, with a delta of 31.5mcm difference on the supply/demand side.

The UK is forecast to have demand-sitting 4mcm below seasonal normal but forecast flows were down at just 136mcm.

Flows from Langeled remain low as the Kollsnes outage extended on for an extra day through Monday, now expected to return tomorrow rather than this morning.

Langeled flows remain down at just 23mcm.

St Fergus flows were at 0mcm this morning, down 21mcm from Friday.

Gas prices have opened above Friday’s close, with a short system and weakness in the GBP over the weekend.

Theresa May announced that there would not be a second referendum on Brexit and expectation of poor PMI results to be announced on Tuesday.

Over the weekend, there has been a slight drop in Coal prices and EUA Carbon emissions prices but not enough to offset gains on the curve.

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