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UK day-ahead power prices rebound as wind set to halve Friday

Increase font size  Decrease font size Date:2018-01-29   Views:310

The UK day-ahead power price surged on a forecast halving in wind output for Friday's peak hours.

* Wind output for Friday at 4.6 GW

* Peakload contract jumps by 9% for Friday

At 11:00 am London time, the baseload contract was at GBP51.25/MWh -- more than GBP1.50 higher day on day and the highest since January 12's GBP51.35/MWh.

The peakload contract rose by nearly GBP5 or 9% to GBP57.75/MWh from Thursday's assessment to the highest since January 10's GBP63.55/MWh.

The EPEX and N2EX settled base and peak at GBP51.30/MWh and GBP57.63/MWh, respectively.

CustomWeather data showed temperatures in most of the regions of the UK were set to be lower on Friday than on Thursday.

Data from UK Meteorological Office showed London is set to remain within maximum/minimum range of 8/3 degrees Celsius on Friday compared with Thursday's 10/4 C.

National Grid's forecast for wind power during peak times on Friday is 4.6 GW, half Thursday's 9.2 GW.

Its forecast for demand during peak times showed it is set to remain nearly unchanged at 47.3 GW, according to the Grid.

Data from spotrenewables.com showed solar output was expected to edge up slightly to 1.5 GW Friday from Thursday's 1.4 GW.

At midday London time, gas-fired output was around 19 GW, coal-fired output was 1.7 GW, nuclear power was 6.4 GW and wind infeed was 6.3 GW, data from the Grid showed.

On the interconnector front, the 2-GW French-UK (IFA) interconnector was exporting around 2 GW to the UK a midday London time, rising from 1.6 GW during early offpeak hours on Thursday, according to the Grid.
 
 
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