Daily Energy Market Report Friday 9th August 19

 

The NBP has opened oversupplied by 6.4mcm, a 4.1mcm decrease day on day, as demand is currently 24.3mcm above its respective seasonal norm.

Deep depression weather systems are set to engulf the UK this weekend with wet and wild, stormy conditions.

The blustery environment is forecasted to see wind generation rise dramatically close to 10GW thus weighing on the Prompt and therefore reducing power burn demand, alas output from solar units should see a decline.

The weight to the Prompt has removed the incentive for storage operators to conduct withdrawals; yesterday 11mcm of economic withdrawals took place and this was the first time since late July -today there are zero nominations and 18mcm of injections.

49.3mcm of Norwegian production capacity has been removed this morning due to planned maintenance at St. Fergus, Valemon, Asgard and Oseberg respectfully, however NCS receipts to the NBP have increased by 9.5mcm today predominately driven by Langeled imports rising by 11mcm day-on day.

The higher imports and aforementioned oversupplied system has enabled the IUK to increase exports to Zeebrugge by 3mcm this morning to 23mcm.

Have a great and hopefully dry weekend.

Daily Energy Market Report Friday 9th August 19 brought to you by British Utilities

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