UK energy prices have been lifted by the prospect of more Western intervention in troubled eastern Ukraine.
This coincided with an undersupplied gas system this morning according to the daily market report from npower.
Gemma Bruce, Client Portfolio Manager on npower’s Optimisation Desk said: “News over the weekend that NATO is delivering arms to the Ukraine is seeing support across the rest of the curve.”
The “short” UK gas system is a result of lower flows from the UK Continental Shelf in the North Sea.
This is “largely due” to maintenance at the St Fergus terminal, she said.
There’s a “tight” margin on the power system as wind continues to be “lacklustre”, added the analyst, with nuclear generation also lower because of safety checks at Heysham plant.
Energy fed into the grid from coal and gas power stations is on a “par” again today.