Daily Energy Market Report Tuesday 26th June 2018
The UK system has opened 12.6mcm long this morning, with demand at 148mcm, 26mcm below seasonal norm.
Temperatures are once again set to be well above seasonal norms, leading to a low LDZ consumption.
Wind generation remains poor again meaning some gas burn is required to generate electricity.
Gas prices eased slightly on Monday due to comfortable system dynamics and the far curve was pressured by a fall in Oil prices.
On Tuesday, gas prices have opened lower from Monday’s close, due to a long UK system and expectations of warmer temperatures bringing lower demand.
Carbon prices have eased approximately €0.10 pressuring the back end of the curve, but slight increases in Oil prices fuelled by uncertainty around Libyan oil exports have offset any losses.
IUK remains offline in maintenance, with storage facilities nominated to inject 20mcm today.
Langeled flows remain low at just 15mcm, with the Kristin outage expected to finish at the end of this week.