Power generation from wind farms in the UK has fallen to just 400MW today.
It is expected to improve until tomorrow afternoon when it may go up to “a miserly 1GW”, according to npower’s daily market report.
Nuclear generation also stands at around 1GW, down on yesterday as EDF unexpectedly halted Torness-2 and Dungeness B-22 due to failures. However they are expected to be restarted on the 18th and 23rd of March respectively.
Prompt gas fundamentals are “relatively comfortable” today, with the linepack forecast to close 7mcm long.
Alex Guiot from the Optimisation Desk said: “Generally demand has softened from yesterday and as expected the gradual temperature improvements erode domestic demand.”
Brent oil contracts have gained and now trade at $41.3/Bbl (£28.8/Bbl) today following US inventory data released yesterday.
“The data showed yet another stock pile build, albeit it was less than expected at 1.3m barrels and the data also showed that production had slid to its lowest level since November 2014. There has also been support from a weak US dollar following a decision by the Federal Reserve to keep borrowing costs steady while scaling back interest rate hike forecasts amid concerns on global growth,” Mr Guiot added.
