Daily Energy Market Report Tuesday 5th June 2018
The UK has opened with a short system on Tuesday morning, with the system at – 4.7mcm.
UK demand has reduced by 4mcm to 150mcm, sitting 34mcm below seasonal normal demand.
LDZ consumption and CCGT demand remain unchanged from yesterday.
The IUK is exporting at 7.6mcm, down from 13mcm on Monday and Langeled flows have increased from 26mcm to 32mcm currently.
Temperatures are likely to hold at seasonal normal until the end of day tomorrow, before ramping up over the weekend and into next week.
Temperatures could be as high as 5°C above average.
Far curve contracts lifted on Monday as stronger Coal and Carbon prices supported the curve.
Spot EUA’s climbed back above €16.
There was a late fall on the curve yesterday, with Win – 18 shedding ~0.7p/therm from 3pm onwards, as Brent Crude lost significant value in the session.
Prices have opened up this morning on the back of the UK short system, impacted further by the continuation of outages pressuring the European continent.
European Emissions and carbon prices are rising sharply further supporting the curve.