Daily Energy Market Report Tuesday 24th August 2018

Daily Energy Market Report Tuesday 24th August 2018

 

The UK system has opened balanced this morning at 0.8mcm long with demand in line with seasonal normal at 170mcm.

Norwegian flows along the Langeled pipeline are flowing at 15mcm as result of outages, both planned and unplanned.

Planned Norwegian maintenance is ongoing at a number of sites, however there a three unplanned events today at Kollsnes, Gullfaks and Asgard, all three taking around 20.9mcm of capacity offline.

UKCS along with storage withdrawals are making up the deficit with flows 80.4mcm and 19.7mcm, respectively.

Exports to Europe along the interconnector sit at 35.9mcm.

Temperatures are hovering around seasonal normal for the next few days, but a drop is forecast towards the back end of the week.

Warmer, drier and calmer weather is than expected in the UK for next week.

Wind is significantly below seasonal normal, which is increasing demand on gas for power generation.

Further out on the NBP continues to rise with strong bull moves in the wider commodities over the bank holiday weekend.

Oil, carbon and coal have all trading upwards continuing a trend we have seen for many weeks.

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