Daily Energy Market Report Thursday 15th August 19

Daily Energy Market Report Thursday 15th August 19

 

Soft open on the NBP prompt again today with the back of the curve opening in line with close, holding onto yesterday’s losses.

Strong wind generation and bearish moves in wider commodities weighed on the NBP.

Brent fell around 3% after data suggesting a global economic slowdown was released along with an unexpected build in US crude inventories.

Coal also fell around 1% because of the concerns around economic growth coupled with a healthy supply picture.

On the UK system, wind remains strong again today with gas for power demand at 30.9mcm, a 17.5mcm drop day on day.

LDZ has also dropped slightly by 4.5mcm to 63.6mcm.

On the supply side, Langeled is nominating at 21.5mcm with UKCS at 67.4mcm.

Overall, the system is balanced at 0.2mcm long.

On weather, despite strong wind generation today, less wind is expected late next week now with expectations of increased gas for power demand.

The warming trend remains from Wednesday next week onwards with the higher pressure set to remain into early September.

Daily Energy Market Report Thursday 15th August 19 brought to you by British Utilities

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