Daily Energy Market Report Friday 19th July 19
The UK opened with a completely balanced system, before turning slightly short.
Total Gas demand in the UK is at 167mcm, with seasonal average at 105mcm.
Langeled flows have climbed slightly day on day to 37mcm but a number of key facilities remain out.
Exports through the IUK remain high at 25.7mcm and despite demand increasing overall, wind generation could peak at 6GW today reducing the CCGT demand.
Peak temperatures have increased overnight with temperatures set to creep into the 30°Cs across the UK on Tuesday/ Wednesday next week, but models suggest that it could turn cooler more quickly approaching the weekend.
Wind levels are expected to be low during the working week.
Oil prices climbed this morning, lifting just over $1/bbl. as reports emerged that the US Navy had shot down an Iranian drone in the Strait of Hormuz.
This is likely to raise tensions again and has caused an upwards move in the commodity today.
The GBP saw some strength on Thursday, moving to a 10 week high against the Dollar.
The EU Chief Brexit negotiator announced that there could be an alternative plan to the Irish backstop in the current deal, before the UK posted some strong Retail sales figures.
Carbon EUA’s prices fell throughout the afternoon session, which brought some pressure to the far curve offsetting further gains.
Daily Energy Market Report Friday 19th July 19 brought to you by British Utilities