Daily Energy Market Update Wednesday 12th September 2018
The UK market has seen losses across the curve on opening this morning.
This follows some significant losses throughout the afternoon session on Tuesday’s trading.
The UK has opened 6.5mcm long this morning, despite demand increasing to 176mcm (up from 141mcm day on day).
The total demand sits right on seasonal average but has increased 34mcm from Tuesday.
National Grid reduced the demand by 20mcm on Tuesday, due to an increase in wind generation.
The CCGT demand reduced significantly with approximately 9GW of wind generation available on Tuesday.
Norwegian outages have ended overnight and this has seen improved flows into the UK.
Langeled flows had averaged 18mcm since 23rd August 2018 due to corrective maintenance and yearly testing.
Overnight, Langeled flows have increased from 17mcm to 42mcm, which has boosted supply into the UK market.
A warmer and windier weather forecast has been modelled overnight, which is likely to reduce demand at the front for the rest of September.
Temperatures are likely to sit at 3/4°C above seasonal normal from Monday 17th September.