Gas power plants are providing just a fifth of the UK’s power today because of strong wind generation, according to the daily market report from npower.
Alex Guiot, Client Portfolio Manager noted demand from combined cycle gas turbine (CCGT) plants, which are efficient gas power stations, “remains very low”.
He put this down to wind power’s performance today: “This is mainly due to very healthy wind generation providing 5.7GW.”
Elsewhere on the energy market, he pointed to a long gas system today as outages at the St Fergus gas terminal ended, plus warmer temperatures forecast.
As for power prices, he said further out along the curve they were “shifting higher this morning on thin liquidity before the end of year”.
Brent crude prices were still trading below $60 a barrel, said the market analyst, adding this could be affected by new data due out today about the British currency and US crude oil stores.