Daily Energy Market Report Wednesday 23rd May 2018
The NBP has opened lower this morning of the back of a long system and lower coal and oil prices. Oil prices have softened as investors assess geopolitical risks and await OPEC’s response to global crude output.
There has been minimal change in the most recent temperature forecast with below normal demand for the next 10 days off the back of warmer weather.
There have also been downward revisions to UK power burn this weekend given an increase in wind, combined with high solar.
The system is around 25mcm long currently with demand pegged at 169mcm, 23mcm below seasonal normal total demand.
IUK exports are nominating at 25mcm.
Storage nominations are injecting at 4mcm.
Langeled nominations are near maximum at 67mcm.
The 2 outages at Kristin and Kvitebjorn are ongoing.