Good supply availability and falling seasonal demand has seen today’s markets open slightly lower according to the daily market report.
Steven Walker, Client Portfolio Manager on npower’s Optimisation Desk added: “Last week’s volatility as a result of Dutch gas production cuts has continued into this week.”
March ‘15 base load is trading at £1.50 megawatt hour lower just below the £43 pounds a megawatt hour mark, the analyst said.
“Initial analysis suggested that a reduction in both CCGT and Rough injection demand this start of summer which is already priced at the short curve should be sufficient to cover any shortfalls in flows through BBL,” he added.
Today’s forecast for wind generated has been revised significantly higher by almost 2GW at peak.