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    Home » UK GAS – Prices rise on lower wind power output

    UK GAS – Prices rise on lower wind power output

    August 12, 2019
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    *Wind turbines.

    London — British wholesale gas prices rose on Monday morning as wind power output dropped from Friday’s levels, increasing demand for gas for power plants.

    * Day-ahead gas was 1.65 pence higher at 30.50 pence per therm at 0810 GMT.

    * September contract up 0.35 pence at 33.60 p/therm.

    * “Wind (output) is considerably lower than on Friday,” a UK gas trader said.

    * Peak wind generation is forecast at 6.4 gigawatts (GW) on Monday, falling to 3.3 GW on Tuesday, Elexon data shows.

    * This is lower than the 10 GW of output on Friday, which has raised gas-for-power demand.

    * The gas system is undersupplied by 13 million cubic metres (mcm), with demand forecast at around 162 mcm and flows at 149 mcm/day, National Grid data shows.

    * Although the market is undersupplied, UK Continental Shelf (UKCS) flows are at 86 mcm/day, up from 72 mcm on Friday, as gas fields ramp up after maintenance.

    Also Read: Centrica contracts Survitec for rough gas rigging lofts

    * “We expect UKCS production to ramp-up slowly over the next 1-2 days reaching around 98-100 mcm/d by the middle of the week,” Refinitiv gas analysts said.

    * Norwegian production output is also slightly higher than on Friday.

    * The Dutch month-ahead contract was 0.44 euro higher at 12.07 euros per megawatt hour.

    * The benchmark EU carbon price edged down by 0.10 euro to 28.02 euros a tonne.

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