Daily Energy Market Report Thursday 18th July 19
Prices on the NBP have opened lower on Thursday morning, with the majority of the curve cheaper than Wednesdays close.
UK demand remains above seasonal norm, holding at 164mcm against average value of 108mcm.
Despite the warmer weather, demand remains high with below average wind generation and a greater demand for CCGT burn.
Wind levels are to pick up today and remain higher throughout the rest of the week.
Temperatures are set to increase over the coming days with the possibility of daytime temperatures reaching 30°C in the UK.
The working week from Monday onwards looks set to be warm with the potential of an increased air conditioning load.
Norwegian gas flows to the UK remain low, falling 5mcm day on day as a number of outages remain in place restricting availability.
UK exports to the continent through the IUK have increased by 8mcm to 23mcm today and CCGT demand remains high at 47.5mcm.
Confirmation has been given that BBL reverse flow capability is ready and will be available from today.
Oil prices crashed on Wednesday afternoon, meaning that the commodity has now lost over $3 this week as news broke that Rand Paul will begin negotiations with Iran to reduce tensions between the US and Iran.
Coal prices saw a strong increase in the afternoon session on Wednesday, which helped to offset any losses on Brent.
Daily Energy Market Report Thursday 18th July 19 brought to you by British Utilities