Power prices open “modestly higher” in UK today

Energy prices opened “modestly higher” today according to a daily market report from npower. Steven Walker, Client Portfolio Manager on the Optimisation Desk said: “UK energy markets have opened modestly […]

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By Vicky Ellis

Energy prices opened “modestly higher” today according to a daily market report from npower.

Steven Walker, Client Portfolio Manager on the Optimisation Desk said: “UK energy markets have opened modestly higher this morning as planned maintenance begins to bite for both power and gas.”

He added: “Within day gas has opened particularly short, with a current predicted Linepack close of 31 million cubic meters (mcm).”

European markets “surged” ahead of trades closing last night, he said, “prompting additional exports through the interconnector which is up to 35mcm today”.

This helped to lift aggregate UK demand above 200mcm, said the analyst.

Forecasts for wind energy likely to feed into the grid remain “quiet” he added, below 1.5 gigawatts (GW) over the coming days.