Daily Energy Market Report Monday 4th June 2018
The UK has opened 5.3mcm short this morning, primarily as forecast demand level has risen by 12mcm from Friday’s levels.
Total demand for the UK for Monday is 154mcm, which remains 30mcm below seasonal average.
UK prices opened up from Friday this morning on the back of a short system and increased gas demand.
Demand has increased slightly this morning as the UK is expected to have a slight fall in temperatures until Thursday, lifting the consumption forecasts.
CCGT demand has been forecast to increase, due to a low wind generation and poor solar due to low cloud cover is increasing the need for gas burn.
Langeled flows remain low at just 26mcm this morning as Kollsnes yearly maintenance continues until 10th June, cutting ~45mcm offline.
The IUK outage is approaching with the UK unable to export to the continent between the 13th – 28th June.
The UK is expected to receive an LNG cargo into Grain today, followed closely by the Al Bahiya discharging into Dragon.