Daily Energy Market Report Wednesday 6th Feb 19. The UK remains balanced once again, holding a small 2mcm in length this morning.
Demand has fallen by 20mcm day on day as temperatures continue to warm up.
The total UK demand is at 306mcm today, 17mcm above seasonal average, the lowest demand level seen since 16th January.
Temperatures are set to remain above seasonal norms, with highs as much as 5°C above average at this time of year.
Wind generation remains low today, boosting gas demand for power but renewables are set to increase on Friday through the weekend.
Coal prices are down again today, to $80.75, down $6 since 1st February helping to pressure the far curve.
Losses further out were hampered by rising EUA’s, which gained ~€.10 through the day to close ~€1.40 up for the week.
The API reported a build of 2.5 million barrels for the week, which was slightly above forecast, with Brent prices falling to $61.43, down from $62.96.
Daily Energy Market Report Wednesday 6th Feb 19 brought to you by British Utilities