Wind power up while nuclear generation drops

Wind energy has picked up to around 3.7GW but generation from nuclear power stations has dropped to below 7GW, according to the daily market report from npower. However nuclear production […]

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By Priyanka Shrestha

Wind energy has picked up to around 3.7GW but generation from nuclear power stations has dropped to below 7GW, according to the daily market report from npower.

However nuclear production is expected to pick up from next week as the Hartlepool Unit 1 facility is due back online today, Client Portfolio Manager Sarah Marshall (pictured) said.

Energy generation from coal-fired power plants has overtaken Combined Cycle Gas Turbine (CCGT) as the dominant fuel source today, she added.

The increase in production has led to the power peak margin forecast to be “very healthy” today at more than 18GW.

The gas system is also “roughly balanced” due to a reduction in demand as well as BBL flows picking back up to 13 million cubic meters, Ms Marshall said.

 

She went on: “The curve is a touch stronger today as it follows oil. Brent is currently trading at $108.6 a barrel. This is following news that a recent deal in Libya to re-open sea ports is unlikely to go ahead as rebels oppose a new Prime Minister.

“Also supporting the curve today is news that Russia is going to switch Ukraine to pre-payments on gas from June.”

Ms Marshall added: “The Pound is a lot stronger against the Euro today which is keeping any gains in check, however. This is following the ECB press conference yesterday where interest rates were kept the same however there were hints of a policy change.”