Daily Energy Market Report Friday 15th March 19. Mild forecasts remain in place regardless of the drop-off forecasted in temperatures for next week; this bearish sentiment is eroding the cold risk remaining in the market.
Next week will see lower wind generation but improved solar and much drier conditions.
Day-on day demand has reduced by 8.2mcm, 27mcm below seasonal norms.
Norwegian entry has ticked down by 9.5mcm but UKCS production has increased by 23mcm vs yesterday’s nominations.
LNG send-out remains strong across NW Europe with eight cargos scheduled to berth into British terminals in the next 11 days applying pressure on the near curve, and with good storage stocks across Europe this is adding weight to the front-two seasons.
Daily Energy Market Report Friday 15th March 19 brought to you by British Utilities