London — Prices of baseload and peakload power for day-ahead delivery in the UK were nearly at parity on Tuesday, largely unchanged from Thursday's close, as steady plant availabilities and higher solar forecast offset a decline in wind supplies.
Receive daily email alerts, subscriber notes & personalize your experience.Register Now
Base power for Wednesday delivery was last heard trading at GBP41.60/MWh before the 11:00 am London market close, down from Thursday's assessment of GBP42.25/MWh for Tuesday delivery.
The Wednesday peak power contract was a touch below the base counterpart at GBP41.55/MWh before the close, barely changed from Thursday's close of GBP41.50/MWh.
According to National Grid, peak wind power generation is likely to decline to 1.8 GW on Wednesday, down from 2.6 GW forecast for Tuesday, while peak power demand is expected to remain fairly stable at below 36 GW on Tuesday and Wednesday.
In contrast, solar power output is expected to increase to a peak of 5.7 GW on Wednesday, compared with 4.5 GW predicted for Tuesday, which is likely to have a dampening effect on the prompt prices.
Also, Grid expects coal, gas and nuclear power generating availabilities to stand at 8.2 GW, 24.1 GW and 7.7 GW on Wednesday.
By Tuesday afternoon, gas-fired power generation reached 15.4 GW, accounting for half of the UK's fuel mix, while coal output nudged below 500 MW, or less than 2%, Grid data showed.
Nuclear output stood at 7.4 GW, or 24%, while wind output was seen at 2.1 GW, or 7%, Grid said.