Daily Energy Market Report Wednesday 16th May 2018
The NBP has opened lower this morning following the softening of coal and carbon prices.
Coal, which began its bearish move yesterday afternoon, has softened off the back of increasing production in China and a strengthening Dollar Index.
Oil opened up in line with yesterday is open after the bull trend was mitigated by an increase in US crude stocks.
Little change in the temperature forecasts this morning with the weekend set to become warm and sunny and temperatures next week above seasonal normal.
Renewables are mixed with Wind below seasonal norms and Solar above, CCGT demand relatively unchanged from yesterday.
LDZ demand is a touch higher Day on Day however the system remains long by around 6mcm.
IUK exports are nominated at 18mcm, 13mcm lower in comparison to yesterday’s levels.
The Sleipner and Gina Korg outages have ended however; there is an unplanned outage at Kollsnes, which started yesterday evening with a capacity loss of 8mcm.
This is scheduled to end tomorrow morning.