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UK day-ahead power prices drop on weaker NBP spot prices

Increase font size  Decrease font size Date:2018-03-28   Views:425
UK day-ahead prices fell significantly Monday, dragged down by weaker NBP gas prices coupled with forecasts for milder temperatures and higher wind output Tuesday.

* Wind during peak times Tuesdy at 7.6 GW

* Demand seen steady day on day at 41.3 GW Tuesday

At 11 am London time, baseload was at GBP48.35/MWh, down GBP3.45/MWh day on day, with the peakload counterpart at GBP50/MWh, GBP3/MWh lower.

In the underlying NBP gas markets, the day-ahead was at 48.80 pence/therm, down 2.65 p/th day on day.

National Grid forecast demand during peak times Tuesday to be steady day on day at 41.3 GW.

The forecast for wind during peak times was 7.6 GW for Tuesday, compared with Monday's 4.4 GW, according to the grid. Solar output Tuesday was set to edge lower to 1.3 GW, from 3.6 GW on Monday, according to the grid.

At 9:30-10am London time, gas-fired output stood at nearly 20 GW, or 53% of the total generation mix, while coal-fired output was about 5 GW, and nuclear output was at 7.8 GW, according to National Grid.

At midday, the 2-GW French-UK (IFA) interconnector was sending 1.5 GW to the UK, and 1-GW Britain-Netherlands (BritNed) interconnector about 350 MW to the UK.

The UK Met office forecast temperatures were set to remain within a high/low range of 13/5 degrees Celsius on Tuesday in London, up from 12/6 C on Monday.
 
 
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